With the takeover of Taurus Energy Pty Ltd. in Sydney, Hamburg-based voltwerk AG is now active on the Australian market. Taurus has many years of project development expertise in the field of regenerative energy, with a focus on wind power.
Founder and CEO’s Andrew Durran (34) and Martin Poole (38) will continue to manage the company, which will now have a stronger focus on product groups for large-scale photovoltaic, biomass und solar-thermal power generation systems. voltwerk’s entry into the Australian market ideally complements the Australian activities of both affiliated company SunTechnics Solartechnik GmbH as well as Group parent Conergy AG.
The market potential is enormous in Australia, as energy demands there continue to rise. With its Mandatory Renewable Energy Target (MRET), the Australian government aims to produce a total of 9,500 gigawatt hours of extra electricity with renewable energy sources by the year 2010, which corresponds to an increase of 60%. “Thanks to the acquisition, we gain a huge developmental lead. Taurus possesses excellent market knowledge and fully developed wind projects with a total output of over 100 megawatts which we intend to realize within the next two years,” explained Nikolaus Krane, CEO of voltwerk AG.
Founded in 1999, voltwerk AG is one of the world’s leading project developers for large-scale photovoltaic power stations. The company also engineers and builds wind farms, solar thermal power plants and biomass-powered electricity generation facilities. Its services range from site development and design of financial and partnership concepts all the way to power plant management. Projects are financed mainly with closed funds or underwritten by institutional investors. With existing subsidiaries in Germany, Spain, France and Poland, voltwerk now has affiliated companies in Australia as well, and anticipates revenues in excess of 150 million euros in 2005.
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