Germany - Alternative energy:: Plambeck 2009 Profit to Rise on Subsidy for offshore wind energy
Plambeck Neue Energie AG, the German wind-park developer founded in 1995, will post higher profit next year as clients take delivery on projects in time to collect higher subsidies, Chief Executive Officer Martin Billhardt said. Customers are delaying accepting finished parks until next year, when a government payment for wind power at onshore sites will be raised to 9.2 euro cents (11.70 cents) per kilowatt hour from 8 cents, Billhardt said. For offshore parks, the subsidy will increase to 13 cents from 8.92 cents.
Germany is seeking to increase renewable energy to 30 percent of the total by 2020 from 10.6 percent in 2006, according to the environment ministry. Plambeck predicts pretax profit will rise to as much as 32 million euros in 2009, according to a company presentation this month. Pretax profit will be 19 million euros to 24 million euros this year. Earnings per share may rise to as much as 69 cents from as much as 51 cents.
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