Energy futureLEF invests in wind turbine maker EWT

One of the major obstacles facing the expansion of wind power is the shortage of wind turbines. The few companies manufacturing wind turbines are hopelessly backlogged, a situation now drawing the attention of investors. We thus note that Ludgate Environmental Fund (LEF) has announced it has invested €2 million into Dutch wind turbine manufacturer and wind park contractor, Emergya Wind Technologies (EWT). The investment is part of a €20 million fund raising round which was led by AtlasInvest, an investment company based in Antwerp. The funds raised will be used for working capital and to repay some existing loans.

EWT is a Dutch-based manufacturer and supplier of wind turbines and turnkey wind parks. It specializes in the development and manufacture of advanced, direct-drive (gearless) wind turbines. You may recall that EWT was established in 2004 by the acquisition of the intellectual property of Dutch wind turbines manufacturer Lagerwey. The company’s product portfolio consists of 750KW and 900KW series wind turbines. EWT is also developing larger wind turbines for onshore and offshore applications.

Nick Pople, director of Ludgate Investments, LEF’s investment adviser said: “Wind energy is currently one of the fastest growing renewable energy segments. Twenty-four per cent of new power generating capacity built in Europe over the last 15 years has been wind-powered generation. There is huge global demand for wind turbines and supply simply cannot keep up. This represents an excellent opportunity for EWT.” Gerry Van der Sluys, CEO of EWT added: “This financing creates a very solid basis for the execution of our strongly growing order book. It is a major step in the next phase of our development.”