Germany

Germany

Windreich hires ex-Areva head as COO

Public listing may be on horizon to fund expansion

German offshore wind developer, Windreich, has appointed the former head of Areva Renewables, Anil Srivastava, as its new chief operating officer (COO) for a 5-year period.

Srivastava will lead Windreich's international sales and marketing and its technology and project activities. His 20-year experience working for large corporates was a key factor in his appointment, and is a signal of Windreich's ambitions to develop a truly global reach.

Windreich chief executive officer, Willi Balz, worked with Srivastava on the Global Tech 1 project. Announcing Srivastava's appointment, Balz described him as the "ideal manager" as Windreich's projects become increasingly complex. Linked to Windreich's strategy to expand internationally, the company is considering the option of becoming a publicly-listed company, confirmed Balz.

Srivastava said he plans to focus on international expansion and to guide Windreich as it moves ahead with several billion euros-worth of offshore wind development over the next 5-6 years.

With a 35% market share, Windreich is the largest player in the German offshore wind development market. In 2010, it reported revenue of €120m and profit (EBITDA) of €11.8m. Its project portfolio in the German offshore market includes the 400MW Global Tech 1 and the 400MW Meg Offshore 1 wind stations.

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