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Solbet plans to enter the renewable energy sector

Solec Kujawski-based (Poland) producer of cellular concrete Solbet, which according to its own calculations controls 27% stake in the market, is planning to enter the renewable energy sector.

“We want to purchase and assemble wind power plants. The first farms are to be opened in 2010,” said Łukasz Małecki, deputy president of Solbet. He went on to say that initially the firm will install 10 wind generators in Poland, while investments will be financed with loans and funds designated previously for acquisitions.

A pilot project is to cost €20 million. The decision was made due to the deteriorating situation in the construction sector, despite the firm keeping its sales forecasts of 340-350 million zlotys. Foreign sales account for 10%-11% of the group's revenues, but “The share of exports will be higher than last year. We cope well on the German market... Russian and Ukrainian markets have significantly weakened,” said the deputy president. (Warsaw Business Journal)