Germany's Senvion considers expansion into new markets - report

German wind turbine manufacturer Senvion SE is currently mulling which markets to enter next, with Chile, Peru and India being among its options, according to the company’s head.

CEO Andreas Nauen told Reuters in an interview on Tuesday that it could take up to two years for Senvion to select its new markets because of local regulation, product mix and macroeconomic factors. The company is planning this expansion as part of its drive to boost sales and improve margins, the news agency said.

Senvion, previously known as REpower, was sold by Indian sector player Suzlon to private equity firm Centerbridge Partners in January 2015 for EUR 1 billion (USD 1.15bn). The company’s core market is Germany, where it installed more than 285 MW of wind capacity over the first six months of 2015.

At the start of July, Senvion posted revenues of nearly EUR 1.93 billion for its fiscal year 2014/15, which ended on March 31, or 6.6% more than a year earlier. The company delivered and installed 683 turbines with a total capacity of over 1.8 GW in 12 countries in the fiscal year.

(EUR 1.0 = USD 1.149)

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