- Press Releases
September 3 (Renewables Now) - Chinese onshore wind tower maker Titan Wind Energy (Suzhou) Co Ltd (SHE:002531) is to start a new business line of making foundations for offshore wind turbines after acquiring a production facility in the German town of Cuxhaven.
The Cuxhaven facility is one of two plants belonging to troubled German wind turbine tower manufacturer Ambau GmbH which in February 2019 filed a petition to start insolvency proceedings. Ambau also makes foundation and transition structures for the onshore and offshore wind industries.
Titan Wind said in a press release last week it will take charge of the Cuxhaven plant in October once Ambau fulfils its last customer obligations. The Chinese company has set up a unit in Germany, Titan Wind Energy (Germany) GmbH, through which it will take over the Ambau facility.
Titan Wind’s Denmark-based European headquarters will own the German unit and run it as a 100%-owned subsidiary.