Senvion announces extensive program for the future

The planned measures will lead to a reduction of an estimated 780 jobs, mainly at Senvion’s facilities in Husum, Trampe and Bremerhaven in Germany and make the company competitive again. The company will meet with employees’ representatives as soon as possible to begin the negotiations. Senvion hopes to agree on a mutually acceptable balancing of interests, and a severance scheme that will make its decision socially compatible.

“We are setting the ground work for the successful future of the company,” said Senvion CEO Jürgen Geissinger. “There is no alternative to decisive changes in order to secure the long term competitiveness of our company with 4,100 employees.” Senvion in recent years has developed new products, improved processes, and made the required investments. Now we have to follow through on our strategy and pave the ground for future global growth.”

“We have consistently highlighted efficiency improvements as one of the core focus points for a successful future. The announced changes are tough but a required step in that direction,” adds Senvion CFO Manav Sharma.

The program is part of the company’s overall strategy that the management will detail when the company presents 2016 financial results. Senvion already announced plans during the IPO to boost operating results. The program will put Senvion on a path of profitable growth in a difficult environment. Wind turbine makers are under strong price pressure and dealing with a shift in demand from established markets to growth regions in South America and Asia.

Senvion marks 2 gigawatts cumulative installations in the UK

Hamburg/Edinburgh: Senvion, a leading global manufacturer of wind turbines, has reached two gigawatts (GW) installed capacity in the UK. Senvion crosses this milestone with the installation of the first turbine at the Dunsland Cross wind farm, owned by an investment fund advised by Temporis Capital LLP, located in Devon.

Senvion UK Ltd celebrated the one gigawatt mark in 2013 and since then has seen significant growth. Last year, the company installed a record number of turbines onshore and was also highlighted as the leading UK manufacturer by installation figures based on research by the annual Onshore Wind Project Intelligence Report published by RenewableUK in October 2016.

Jürgen Geissinger, CEO at Senvion, says: “Reaching two gigawatt installed capacity and leading UK installation figures demonstrate how Senvion remains a key player in the UK wind market. The collaborative, customer-focused approach we adopt ensures Senvion products remain competitive and offer ideal solutions to optimise the range of wind conditions across the UK.”

Guy Madgwick, Managing Director of Senvion Northern Europe, added: “We are delighted to reach the historic milestone of 2 GW of installed capacity in the UK. This is the result of years of dedication and commitment by the Senvion team and it also demonstrates the high level of repeat business and customer loyalty that we experience. Our innovative and flexible approach is a key strength in our business relationships and we are committed to building further on the successful partnerships we have developed since we installed our first turbine in the UK in 2005.”

Senvion UK Ltd was established in 2004. There are now over 800 turbines in operation, from the former MD series to the current MM and 3.XM series, as well as 30 Senvion 5M offshore turbines at the Ormonde wind farm. Senvion employs over 170 people in the UK, with eight service centers spread across the country.