Senvion

Senvion SA
Société anonyme
Traded as FWB: SEN
Industry Renewable power
Founded 2001
Headquarters Hamburg, Germany
Key people
 Jürgen Geißinger (CEO)
Products Wind turbines
Number of employees
 3700 (2015)
Website www.senvion.com
REpower in Bremerhaven, Germany (Aerial view 2012)
REpower MM82 Wind Turbine in Minervino Murge, Italy

Senvion SE (formerly REpower Systems SE) is a German wind turbine company founded in 2001, now majority owned by the private equity firm, Centerbridge Partners. Its product range comprises several types of turbines with rated outputs of between 1.8 and 6.15 megawatts.

History

Senvion was formed in 2001 from the merger of the company Jacobs energy with HSW (Husum Shipyard), "BWU" and "pro + pro energy systems" (a subsidiary of aerodyn energiesysteme and Denker & Wulf). The roots of this company go back to 1994, when the first self-developed 500-kilowatt system was presented. Previously, the configuration and operating company "Denker & Wulf" was founded in Sehestedt in 1995. This was, however, sold to the interim consolidated financial affiliation with REpower, in 2004.

Senvion started to produce the ProTec MD, a 1500 kW turbine. This turbine designed by "pro + pro energy systems" was licensed also to "Jacobs Energie", Nordex SE, Südwind and Fuhrländer. Later own designs like 2MW, 3MW and 5MW turbines are follow.

In May 2007, after efforts by its largest shareholder Areva to take a controlling interest in the company, a series of protracted bidding rounds [1] resulted in not Areva, but Suzlon Energy of India acquiring the majority shareholding in REpower Systems for €1.3 billion.[2] The deal was structured in such a manner to allow Suzlon to purchase Martifer's stake (22%) within two years for a fixed price of €265 million.[3] Suzlon subsequently strengthened its position by buying the remaining 30% Areva stake in June 2008 for more than €350 million.[4] Suzlon's total investment of approximately US$ 1.6 billion gives it a holding of 66%, with the next largest shareholder being Martifer of Portugal. Areva went on to purchase the majority holding in 5MW rival, Multibrid.[5] In 2009 Suzlon raised its share to 92% of REpower.[6] As of February 2015, Suzlon Energy owns 100% of Senvion, but subsequently sold the company to Centerbridge Partners LP.[7] in April 2015. The Company was then listed on Frankfurt Stock Exchange Prime Standard on 23rd March 2016 at a valuation of €1bn.

Operations

The Senvion 5M 5-megawatt turbine was the largest commercial turbine until the subsequent upgrade of this unit to provide significant more power, named "6M". This has a rated output of 6.15 megawatts from the same rotor diameter of 126.5 meters. The target market is the offshore wind farm sector. The prototype was assembled in the autumn of 2004 in Brunsbüttel, located in the German state of Schleswig-Holstein. In August 2006 the first 5M model was erected for the Beatrice project. The Senvion 6MW turbine with the same rotor diameter has been operational in Elhöft, Germany since 2009, well ahead of any other turbine manufacturers in this class in the world.

Locations in Germany

Senvion new nacelle assembly hall at Bremerhaven.
Wind rotor blade Senvion, Bukowsko 2010

Senvion maintain their global operating headquarters and administrative centre at Hamburg. Research and Design facilities are located at Rendsburg, Schleswig Holstein, close to the original manufacturing plant and test centre in Husum. A new assembly hall was opened in Bremerhaven in 2008[8] specifically aimed at the future offshore market. This facility was built adjacent to a new 460m long joint venture blade assembly plant, where Senvion has a majority holding.[9] A further manufacturing and service centre exists at Trampe near Berlin, and a secondary design office at Osnabrück.

Offshore wind

Senvion 5MW in Thornton Bank

Senvion is a major supplier to the offshore wind industry and one of the leaders in the 5MW+ turbine category. As well as the two units installed in the Beatrice demonstrator project in the Moray Firth, the 5M unit is currently being used for Phase I of the Thornton Bank project off the Belgian coast, where the first six of a total of 54 turbines were installed in the summer of 2008.[10] Thornton Bank phases II and III (featuring 48 x Senvion 6M turbines) were installed in 2013. This wind farm has been running exceptionally well, with capacity factors of well above 50% in the first three months of 2014 - well above the predicted yields. Thornton Bank was fully project financed, thus demonstrating the bankability and track record of the Senvion turbines. In 2012, Senvion also completed the 150MW Ormonde wind farm off the coast of Barrow in the UK with 30 x Senvion 5M turbines for Vattenfall. Further projects include Nordergründe in the Weser estuary off the coast of Bremerhaven, where a turbine supply agreement has been signed to supply 18 x 6.2M126 units.[11] The 5M is also deployed as part of the Alpha Ventus demonstrator in the German North Sea, where six 5M units were installed in 2009. In anticipation of future turbine supply shortages, RWE Innogy signed a memorandum of understanding with Senvion for supply of 250 offshore units up to 2016.[12] Senvion has also recently signed a contract for 54 x Senvion 6.2M126 turbines for the 332MW Nordsee One project for RWE Innogy & Northland Power. In 2016, France chose to fund 4 6 MW Senvion Ideol floating offshore foundation turbines in the Mediterranean Sea for 2020.[13]

See also

References

  1. ↑ "How Suzlon swung the REpower deal!". The Times Of India. 2007-05-26.
  2. ↑ "Suzlon acquires REpower for 1.35-b as Areva backs out | Business Line". Thehindubusinessline.com. 2007-05-26. Retrieved 2015-06-20.
  3. ↑ Archived December 5, 2008, at the Wayback Machine.
  4. ↑
  5. ↑ "Areva takes 51% in German wind plant firm -source". Reuters. 2007-09-16.
  6. ↑ Beckett, Paul (2009-12-10). "Suzlon Aims for Full Control of REpower - WSJ". Online.wsj.com. Retrieved 2015-06-20.
  7. ↑ Alexander, George Smith (22 Jan 2015). "Suzlon to Sell German Unit to Centerbridge for $1.2 Billion". Bloomberg.com. Retrieved 2015-06-20.
  8. ↑ "Senvion | 404 Errorpage". Repowersystems.de. Retrieved 2015-06-18.
  9. ↑ "Senvion | 404 Errorpage". Repowersystems.de. Retrieved 2015-06-18.
  10. ↑ "REpower: First wind energy turbine erected for Thornton Bank offshore wind farm in Belgian North Sea". Your Industry News. 2008-08-04. Retrieved 2015-06-18.
  11. ↑ Archived July 18, 2011, at the Wayback Machine.
  12. ↑ "REpower & RWE Innogy Make 1.9-GW Deal | Renewable Energy Information". Renewenergy.wordpress.com. doi:10.1016/j.ecolecon.2007.08.017. Retrieved 2015-06-18.
  13. ↑ "Senvion Turbines to Float off French Mediterranean Coast". Offshore Wind. Retrieved 1 August 2016.
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