New wind investment company to buy up wind turbines in tough market  

2009.11.13
Danish companies Egnsinvest and Tre-For are putting DKK 210m into a new wind investment company listed on NASDAQ OMX First North
Danish investment management company Egnsinvest and energy company Tre-For are jointly investing DKK 210m (USD 42.2m) in the newly established European Wind Investment (EWII), which will primarily acquire and operate existing wind farms in Denmark and abroad, writes financial daily newspaper Børsen. Tre-For, one of Denmark's largest energy supply companies will invest DKK 150m (USD 30.2m), while Egnsinvest is putting 60m (DKK 12m) into EWII.
 
Managing director of Egnsinvest, Thorkild Sørensen, who will also become a director of EWII, says: "The credit situation is difficult  for many projects at present, so there are good opportunities on the market for acquiring attractive wind farms."
 
Knud Steen Larsen, managing director of Tre-For, comments: "We are financially well equipped, and if we can do good business, we will take that track."
 
EWII is listed on NASDAQ OMX Firsth North, and the two parties hope their total investment will grow to DKK 1bn (USD 200m) on the share market.
 
"We would like to have more investors. The company gives institutional and private investors an opportunity to gain a share in a wind turbine, and that's good business. Otherwise Tre-For and ourselves would not invest so much money in the company," says Thorkild Sørensen.
 
If EWII reaches DKK 1bn in available capital, the company can acquire about 100 wind turbines of 1-2 MW capacity. "We will enter recent land-based wind turbine projects. They are located both in Denmark and European countries. Germany especially is a good country for wind turbines," says Knud Steen Larsen.

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