Windreich subsidiary WKU files for insolvency

Heer: “The offshore-project MEG I continues without any restrictions.“

Wolfschlugen, 13. September 2013

As a consequence of the ongoing insolvency proceedings at Windreich GmbH its whollyowned subsidiary, Windkraft Union GmbH, Wolfschlugen (WKU), had to file for insolvency at the local court in Esslingen. This step was necessary because WKU has significant claims against Windreich GmbH which currently cannot be satisfied. WKU has worked as a project development company for the Windreich group.

Werner Heer, CEO of Windreich GmbH stated: “Given the close connection of these two companies, this was a logical step which allows us to give more security for our investors with regard to the ongoing offshore projects. The offshore project MEG I continues without any restrictions.“

With the insolvency of WKU GmbH, 31 employees in Wolfschlugen and Hamburg are affected. They have been informed at a meeting led by the new CEO´s of WKU Werner Heer and Heiko Roß. Roß and Heer have been appointed CEO´s of WKU GmbH last Monday after Willi Balz had resigned his chairmanship. „We are currently focusing on closing the financing of MEG I within this year in order to give a clear perspective to the employees of Windkraft Union and Windreich“, said Heer.

WKU GmbH as a project development company of Windreich GmbH builds turnkey offshore wind farms for its clients. The company cooperates closely with leading suppliers and partners within the wind industry. The current big project of WKU is the offshore wind farm MEG I with 80 wind energy converters of the 5 MW-class. This wind farm will be built directly adjacent west of the wind farm Alpha Ventus which has been in operations for about four years.


Windreich subsidiary WKU files for insolvency

© Windreich GmbH 2013