Germany's PNE Wind plans £500m investment in UK renewable energy

GERMAN renewables firm PNE Wind is planning a £500 million investment in Britain over the next three years.

The company, which has recently established a UK venture based in London, will set up offices in Scotland before the end of the year as it bids to become a major player in the sector.

PNE Wind UK is looking to develop its portfolio of wind farms across Scotland, England and Wales with the capacity to provide more than 300MW of sustainable energy to help meet the UK's renewable energy target of 15 per cent by 2020.

Its plans coincide with an extension to Edinburgh-based REpower's contract with Scottish & Southern Energy for a further five wind turbines to the 30 it is providing for the Gordonbush wind farm in Sutherland under a deal signed in 2008. REpower is also supplying turbines for the Achany and Fairburn wind farms in the region.

PNE Wind's expansion into the UK is the latest move by parent company PNE Wind AG, which since 1995 has been building onshore and offshore wind farms in Bulgaria, Canada, Germany, Hungary, Romania, Turkey and the United States.

The Group employs 135 engineers and other staff worldwide and posted a turnover of ?137.3m (123m) in 2009.

George Mager, UK director, said the company would use the expertise honed in international markets to develop, design, implement, finance and operate onshore sites across the UK.

"This is a key strategic and logical progression for the company," he said.

"PNE Wind is increasingly investing in dynamic growth markets and the UK is a key market with investment growth forecast to reach 200billion in the industry over the next decade."

Scottish Enterprise will use this week's All Energy Conference – the UK's biggest renewable power event – in Aberdeen to promote opportunities for manufacturers to grab a slice of Scotland's 30bn offshore wind market.

The agency has identified which companies are already working in the sector and those working in related areas – such as the oil and gas industry – which could move into the renewable energy market.