Siemens Project Ventures GmbH (SPV), a subsidiary of Siemens Financial Services, and WKN Windkraft Nord AG have founded the joint venture Innovative Wind Concepts GmbH (IWC) effective October 30, 2006.
IWC GmbH will develop and realise wind-energy projects in central and Eastern Europe. The two partners each hold 50 per cent of the shares. The new company will be based in in Husum, northern Germany. The partners will contribute their respective experience and strengths in equal parts to future joint projects. SPV invests equity in infrastructure projects worldwide with a special focus to date on energy, telecommunications and airports. SPV currently hold stakes in seven international projects with a total volume of US$4 billion.
