Privately held Juwi notched up €1.1bn ($1.45bn) in revenue in 2012 – up 10% on the prior year.

The company did not tip its hand as to its profitability, but acknowledged having cuts jobs during the “turbulent” course of 2012, leaving it with 1,800 workers.

Juwi intends to focus principally on onshore wind and PV for the foreseeable future, with plans to boost turnover to €1.5bn