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14. September 2011

GER - REpower receives order to deliver 7 public wind farms

REpower, where Suzlon Energy Ltd is the majority shareholder with approximately 95% holding, has concluded contracts with 7 communities in Northern Friesland to deliver a total of 47 wind turbines. Northern Friesland is the stronghold of public wind farms in Germany.

33 2 MW (MM82 and MM92) and 14 high performance 3 MW turbines (3.4M104) are to be used.

Master agreements have been agreed with a buying syndicate under the direction of WEB Andresen GmbH. The turbines will achieve a combined output of 114.83 MW and should ensure production of environmentally friendly electricity in the region from 2013 onwards.

Mr Andreas Nauen CEO of REpower Systems SE said that "The public are Involved in many of the wind projects Implemented in Northern Friesland. The benefits to the initiators are plain to see: Not only business tax but much of the value added stays in the region and the citizens can play active roles in the planning process.”

According to Mr Jens Muller-Nielsen MD of REpower Systems GmbH, all eyes are currently on Northern Friesland in view of the further expansion of renewable energies in Germany, he said that "With the success model of public wind farms, the region is leading the way for other regions and states, especially in Southern Germany.”

All seven wind farms have a full maintenance contract for 15 years, with a further five year option, and are expected to be constructed at the end of 2012 or in 2013, The contracts are currently still under conditions precedent.



Sourced from Equity Bulls

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