PNE Wind looks for big sales in U.S.
"Our goal is to generate 25 percent of sales there in three years," Martin Billhardt said in an interview. The company does not provide a regional breakdown of sales, but its declared goal is to broaden its position in the United States, which is set to benefit from large subsidies for renewable energy.
U.S. President Barack Obama announced late last year grants totaling $3.4 billion to create a "smart" electric grid that would also carry power generated by solar and wind energy, a project that is seen as boosting the number of wind parks.
Billhardt said that PNE Wind had signed a joint venture agreement with U.S. company Renewable Solutions in the third quarter to increase its presence in the country.
PNE Wind — whose suppliers include Danish Vestas, the world's largest maker of wind turbines, and Germany's Nordex — reported nine months sales of 102.7 million euros (US$153.8 million).
"We're also well on track to reach our full-year EBIT target of 5-7 million euros," Billhardt said, adding that despite the financial crisis, investors such as bigger utilities and wind funds were interested in assets in the wind sector.
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Wendy Watson, the director of communications at Greater Sudbury Utilities, says signs of the approaching deadline could be seen in their office of the past few weeks.
"We've had quite an active stream of people into our front office to catch up on their accounts and also we've had a lot of people calling us to make payment arrangements or pay their bill or deal with their arrears," she says.
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