Enercon has secured long-term financing with its banks and the Aloys Wobben Stiftung. As well as an existing credit, the agreement also covers a new guarantee facility. This in particular enables Enercon to provide the guarantees necessary in other countries for large-scale onshore projects there. In addition, it is also planned that the external financing at group level will be repaid as scheduled. The agreement is initially valid until the end of 2023.
‘The arrangement gives us the planning security we need to continue successfully implementing the turnaround operations’, says Enercon CFO Dr Thomas Cobet. Following the collapse of the German onshore market, which has been the focus of Enercon’s activities in the past, the company is now concentrating on international growth markets. This is connected with a stronger focus on Enercon’s core business, namely the development, sales and service of onshore wind energy converters, and areas directly associated with this’, says Enercon CEO Hans-Dieter Kettwig. ‘As part of this strategic reorientation, the business segment of WEC operation, energy generation and energy marketing will be transferred to a new company. A declaration of intent to establish a joint venture has been signed with the EWE AG.
In addition to a new strategic focus, Enercon’s reorientation also comprises structural changes to the company organisation, a drive to develop new wind energy converters, and optimising the global supply chain against the backdrop of tougher international competitive conditions.