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Strategies & Market Trends : Commodities - The Coming Bull Market
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To: craig crawford who wrote (443)7/6/2001 12:56:29 PM
From: craig crawford  Read Replies (1) of 1643
 
Wednesday July 4, 9:35 am Eastern Time

Enron says may spin off wind power arm this year
biz.yahoo.com

COPENHAGEN, July 4 (Reuters) - U.S. energy firm Enron Corp. (NYSE:ENE - news) may spin off its wind power unit Enron Wind as early as this year, Enron Wind managing director Andreas Reuter said on Wednesday.

``Enron has a plan to sell off its assets -- not linked to trading -- and Enron Wind is considered an asset. We might find a solution this year,'' he said. ``The most likely outcome is for a financial investor to take over the company and launch an IPO in two years time,'' he said on the sidelines of a five-day European Wind Energy Conference and exhibition in Copenhagen. Earlier this year European private equity company Doughty Hanson & Co bought wind-power blade manufacturer Danish LM Glasfiber for an undisclosed sum, saying it planned to launch an IPO in five years.

Enron Wind is focusing expansion plans on the Netherlands, Ireland, France and Britain, Reuter said. At present Enron Wind has production capacity in Europe's core wind markets Germany and Spain and has its eyes on Britain. ``If the British market starts moving, we would consider manufacturing blades over there,'' he added. Enron had a six percent market share of the world market for installed wind turbines in 2000, while the world's largest wind turbine maker Danish Vestas Wind Systems had a market share of 18 percent. Spanish firm Gamesa Group's Gamesa Eolica -- in which Vestas holds a 40 percent stake - and Danish rival NEG Micon each hold 14 percent of the market.
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