German outfit PNE Wind is targeting new markets in 2018 in an effort to boost growth and increase earnings, following a difficult 2017.
The company said it is moving from just a wind farm developer into a “clean energy solutions provider”, including solar, energy storage and hydrogen technology.
The “strategic realignment” will leave it “well positioned to meet the challenges of the future”, PNE said.
The wider focus is “intended to better compensate for fluctuations in operating business in individual markets in the future”, it said.
The first step is a cooperation agreement with engineering service provider VPC, the company added.
PNE said wind farms with combined capacity of 51.9MW are currently under construction in France, Germany and Sweden. Around 200MW of projects are in the pipeline to be built by 2020.
The company also plans to focus on emerging markets, including countries in Latin America, Middle East, Asia and Africa.
In 2017, revenue and profit were both down substantially. Revenue was €114.1m, falling from €248.6m in 2016, while net income fell to €17.1m from €69.0m in the previous 12 months.
Image: PNE Wind
PNE Wind widens green vision
By EBS