German NGW wants to acquire Volkswerft Stralsund, develop wind energy

(SeeNews) - Jan 20, 2014 - German wind energy investment firm New Global Wind GmbH (NGW) said yesterday it has made the final decision to purchase the Volkswerft Stralsund shipyard, part of insolvent P+S Werften, and to develop it as a production site for wind energy equipment.

The company placed an offer for the acquisition of the shipyard in the city of Stralsund, Western Pomerania state, at the end of 2013. Financial details were not disclosed.

NGW plans to invest some EUR 80 million (USD 108m) in the development of the existing production facilities at the shipyard for the manufacturing of offshore and onshore wind turbines, generators and innovative floating foundations.

In addition, a service department will be constructed for maintenance and monitoring of wind turbines.

Following the completion of the intended purchase, manufacturing can begin in the fourth quarter of 2014, the company said. The first order worth EUR 750 million for 300 onshore turbines has already been secured.

The expansion of the shipyard's operations as well as two other industrial projects for renewable energy research and production in Stralsund will create more than 1,000 new jobs in the following three years, NGW said.

(EUR 1.0 = USD 1.356)

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