R - Bard Engineering GmbH

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Press Press release
release
BARD BARD-Gr BARD BARD Gr Group Gr oup complements complements management management team
team
and nd start starts start
Investor Investor Pro ro rocess ro ess
Financing secured / Restructuring successfully completed / Germany’s first commercial
Offshore Wind Farm is Pioneer of a new Future Industry
Emden – 12 th of September 2011
BARD, Germany’s offshore pioneer seated in Emden, has completed the realignment of the management
team which began early 2011. Olaf Olaf Struck Struck (46) will join Bernd Bernd Ranneberg Ranneberg (50, CEO) and
Manuel Manuel Althoff Althoff (47, CFO) from the 1 st of October 2011 as new chief technical officer (CTO) of BARD
Holding GmbH.
Olaf Struck is a versed expert of the wind energy and offshore industry. Before he founded a service
company in 2006, he was among other positions also a member of the management board of Repower
responsible for production.
Since end of 2010 the BARD Group has gone through a profound change process. Besides the changes
in staffing of the Holding and the subsidiaries, the organisation has been modified towards effectiveness
and competitiveness. Furthermore the experiences gained during the construction process of
BARD Offshore 1 were integrated in the ongoing implementation.
BARD Offshore 1 has a nominal capacity of 400 megawatt; this is more than half of the power of a
medium-sized coal fire power plant. Of the 80 planned wind turbine generators of the 5 MW class, 19
have been completely installed and 42 foundations have been erected. The start of operation of the
wind farm is planned to be completed by the end of 2013. With the project Veja Mate a second wind
farm with the same nominal power has been permitted in the North Sea and is currently in the planning
process.
The financial partner of the BARD Group, the UniCredit bank, has secured a full financing and therefore
the completion of BARD Offshore 1.
The investor process for the BARD Group has started. The US investment bank JP Morgan has been
mandated with the search for a strategic investor. The new owner structure is to be decided by the
end of the first quarter 2012.
Bernd Bernd Ranneberg Ranneberg: Ranneberg „The BARD-Group is the first company in the offshore industry which has gained
reliable experience over the last one and a half years on the installation of deep water, far from the
coast offshore wind farms. BARD as offshore pioneer has been able to harness these in part extreme
experiences and already today possesses a unique know-how. We will continue to expand this head
start in development, production and construction in the offshore area. Our technology will materially
contribute towards reaching the political targets of the Federal Government to combat climate
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BARD-Group press release dated Sept. 12 th . 2011
www.bard-offshore.de
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change. “
About About BARD
BARD
BARD is currently installing the first commercial wind farm in the German North Sea (“BARD Offshore
1”). 16 of the planned 80 wind converters in this 400MW project are already connected to the grid,
40 of the 80 foundations have already been installed. BARD Holding GmbH is the BARD Group’s parent
company. The whole value creation chain in the area of electricity production from offshore wind
power is now largely covered by companies in the BARD Group. BARD Engineering GmbH, founded in
2003 is a project development and investment company specializing in offshore wind farms.. BARD
Emden Energy GmbH & Co. KG has been manufacturing and assembling its own rotor blades, GRP
components and complete offshore wind turbines in Emden since the end of 2006. BARD Tripile
foundation structures for BARD offshore wind turbines went into series production at Cuxhaven Steel
Construction GmbH in 2008. The Bremen, Emden, Groningen and Cuxhaven sites employ more than
1,000 people in total.
BARD BARD Holding Holding Holding GmbH GmbH, GmbH GmbH , Am Am Freihafen Freihafen 1, 1, 26725 26725 Emden Emden, Emden , Germany Germany
Germany
For further Information please contact:
www.bard www.bard-offshore.de
www.bard www.bard offshore.de
BARD Holding GmbH BARD Holding GmbH
Head of Corporate Communications Corporate Communications / Press officer
Axel Bahr Andreas Kölling
Otto-Lilienthal-Straße 21 Otto-Lilienthal-Straße 21
28199 Bremen 28199 Bremen
Germany Germany
Fon + 49 (0)421 59660 438 Fon + 49 (0)421 59660 471
Fax + 49 (0)421 59660 420 Fax + 49 (0) 421 59660 420
eMail: axel.bahr@bard-offshore.de eMail: andreas.koelling@bard-offshore.de
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BARD-Group press release dated Sept. 12 th . 2011
www.bard-offshore.de
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