- Windreich AG presses ahead with international expansion and offshore projects with new Management Board member
Anil Srivastava has been appointed as the Chief Operating Officer (COO) and a new member of the Management Board at Windreich AG. The 51 year-old energy manager, who most recently worked as CEO of the Renewable Energies Business Group at the French energy giant AREVA. He will head up the Technology, Projects, International Sales, and Marketing functions across the Windreich AG group. Srivastava has been an advisor to the company for the past three months. He has been appointed by Windreich’s Supervisory Board for a five-year period starting with immediate effect. Anil Srivastava has a successful track record of more than twenty years experience in international business management. Prior to his activity at AREVA, he has held senior executive positions in companies such as TomTom group and Alcatel-Lucent. He obtained a master’s degree from the Indian Institute of Technology in India and graduated with a MBA from the Wharton School of Business in the USA.
Comments Willi Balz, CEO of Windreich AG: ‘As pioneers of the offshore wind business in Germany, our projects have advanced significantly and have taken on an entirely new scale of complexity. Projects on this scale require different management structures and greater internationalisation. Anil Srivastava is the ideal manager for this purpose, and one I have already respected greatly for many years when we interacted with him as the CEO of Areva Renewables during the Global Tech project. Now he will work together with me on equal terms to press ahead with further developing Windreich AG. By appointing Mr. Srivastava, we are setting our company on course for solid growth and internationalisation. He is able to contribute suitable experience and, in view of his previous activity at the AREVA Group, has the utmost specialist competence, a superb network of contacts within our industry and the expertise required for a potential international IPO.’
Comments Anil Srivastava: ‘This role is a very exciting new opportunity for me. Under the visionary and inspiring leadership of Willi Balz since 1999, Windreich has built an in-depth expertise in development, design and management of Onshore and Offshore Wind Parks. Germany is the global leader in the 5MW class Offshore Wind Parks and Windreich AG is by far the leading project developer within Germany. Leveraging the twin advantages of the tremendous project pipeline and the expertise within the company, I am committed to help Windreich realize its vast potential of deploying number of Offshore Wind Parks worth several billions of Euros over the course of next 5 to 7 years. Windreich AG is extremely well positioned in the German market, and I would endeavour to help the company expand into International markets in the coming years.’
Windreich AG plans, builds, finances and markets both onshore and offshore wind power plants. Furthermore, the company also ensures the smooth technical and commercial operation of the plants. Founded in 1999 by the engineer Willi Balz, Windreich AG is seen as a pioneer in the wind power sector. Windreich’s most important growth area is now the offshore business in the German North Sea, one in which the company has built up a leading market position. In 2011, Windreich generated total revenues of Euro 161 million and consolidated net profit of Euro 11.9 million (HGB). These key figures are expected to show sharp growth in the future.
Windreich AG is also represented on the capital market with two bonds issued in 2010 and 2011 respectively. The 2010/2015 6.5% bond (WKN A1CRMQ7) and 2011/2016 6.5% bond (WKN A1H3V3) are listed in the Bondm trading segment on the Stuttgart Stock Exchange.
Source: Windreich AG
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