European Turbine Makers Interested in Enron Wind

Two manufacturers of wind turbines have expressed interest in buying all or part of the wind turbine division of Enron, the U.S. energy giant that filed for bankruptcy this week.

LONDON, England, UK, 2001-12-14 [SolarAccess.com] Enron Wind has production capacity in the U.S. as well as in Spain and Germany, currently the two largest markets for wind energy in Europe. Vestas Wind Systems of Denmark expressed interest after it recently sold a 40 percent share in its Spanish wind competitor, Gamesa Eolica. Vestas says Enron Wind, which has been up for sale for some time, has high production levels, a large development division, and owns its own windfarms. Vestas normally concentrates on the production and delivery of wind turbines, but would consider Enron Wind if the price is right. Nordex of Germany says it would like to buy its rival, following the demise of Enron Wind’s parent company. Industry observers say the manufacturing group may be worth US$125 to $200 million, and had a global market share of 6 percent of installed capacity. Nordex, with a market share of 8 to 9 percent, is worth 240 million euro ($213 million). While the Enron Wind turbine production unit has been on the market unofficially for some time, prospective buyers, including rival turbine manufacturers, have been deterred by high price estimates. Worldwide, the wind industry is valued at US$5 billion and is projected to rise to $70 billion by 2020.

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