Denmark’s ProCon Wind Energy and the UK-based CPower Energy have entered into a joint venture partnership agreement to jointly deal with the effects of the UK’s formal exit from the European Union on 31 January.
Through the joint venture agreement, the two companies plan to ”overcome any potential challenges and exploit opportunities in relation to Brexit.”
CEO of ProCon, Claus Søgaard Poulsen , said: “In addition to functioning as a means to deal with Brexit, the joint venture partnership will also contribute to the strengthening of the two companies’ market positions, market reach, competitive pricing and recruitment of manpower. This is essential on the global wind market as more and more competitors emerge and because the wind industry is categorized by e.g. requirements concerning being present at several regions of the world, bringing cost down and providing specialist staff.” With this new partnership and an already registered company in the UK, ProCon Wind Energy expects to fulfill current contracts and agreements in the UK but also meet the expected challenge regarding the import of equipment and materials by getting CPower to introduce alternative solutions and suppliers.
Although both parties have a registered company in the UK, no shared company has been established – leaving room for development of the partnership, the companies said. This means that costs, fees, and profits will be based on contribution, investment and responsibility from case to case.
“We are delighted to have entered into a cooperation with ProCon Wind Energy, which we can develop further for mutual benefit inside and outside the UK,” Peter Jorgensen , CEO of CPower Energy, said.
”It provides us with great opportunity to work together both tender- and project-wise while also building up a relationship for turbine technicians.”
The partnership is not exclusive as both companies are in contact with a large number of other companies and are allowed to enter into other partnerships and agreements, the companies said.