PNE Wind looks for big sales in U.S.

PNE Wind U.S. expansion targets 25% sales via renewable energy subsidies, smart grid grants, wind power projects, and a joint venture, leveraging Vestas and Nordex turbines amid strong investor demand and clean energy policy.

German wind park developer PNE Wind aims to generate a quarter of its sales in the United States in three year's time, its chief executive told Reuters.

"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, particularly in the U.S. wind market 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, with renewable energy investing expected to accelerate, a project that is seen as boosting the number of wind parks.

Billhardt said that PNE Wind had signed a joint venture agreement focused on the U.S. wind market 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), as European utilities expand portfolios across the sector.

"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, including EDF's wind arm, and wind funds were interested in assets in the wind sector.

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