EnergyWatch

Huge order declines for German wind turbine manufacturer

Despite four extra months to work with, Europe's sixth-largest turbine manufacturer saw the 2016 order intake decline by almost a fourth. 

Photo: Senvion

Senvion's first year as a listed company was something of a flop. In an announcement preceding its annual report, due to be presented in March, the wind turbine manufacturer announced that the order intake for 2016 had a value of EUR 1,304 million. That is 13 percent lower than what was presented the year prior for the sale of 1,522 MW – despite the fact that the 2015 financial year was four months shorter for the company.

That is because the fiscal calendar was aligned to the calendar year when American capital fund Centerbridge officially bought Senvion from Indian company Suzlon at the end of March 2015. A little over a year later, part of the turbine manufacturer was listed on the stock exchange, although it took two attempts, as the price was initially greater than the interest.

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