euro adhoc: REpower Systems AG
Joint Ventures/Cooperation/Collaboration /
REpower starts co-operation in India
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.09.2006
- License agreement with Indian Essar group
- Joint Venture planned for 2007
Mumbai/Hamburg, 14 September 2006. REpower Systems AG (Prime Standard, WKN 617703) will sign a license agreement with the Essar group, one of India's leading industrial conglomerates. The signing ceremony is expected to take place tomorrow. REpower with its reliable 1.5 megawatt technology REpower MD will thus be represented on the growing Indian wind energy market. Furthermore, the partners intend to form a joint venture which is to produce also REpower's 2.0 megawatt turbines in 2007.
After REpower announced its imminent market entry in the US and the conclusion of a joint venture contract in China, it will hereby enter into the vast Indian wind energy market. The contract territory of the planned joint venture "Essar REpower India" shall moreover cover potential markets in Malaysia, Thailand and Vietnam. REpower again managed to secure a controlling interest in the joint venture just as in the recently established "REpower North (China) Ltd".
India with approx. 4,250 megawatts of totally installed wind power capacity is today the largest market in Asia and ranks No. 4 in the world. Essar's newly founded subsidiary "Essar Wind Farms" plans to realise windfarm projects with a total rated power of at least 300 megawatts until 2010.
The Essar group is one of India's largest corporations and is amongst others involved in industries like steel production, construction and power generation. Besides towers specially developed for using Essar's steelplates grade, REpower and Essar also plan to co-operate on 37m blades designed by REpower. The parties furthermore examine possibilities to build up a local gearbox supply.
end of announcement euro adhoc 14.09.2006 14:30:28
Further inquiry note:
Thomas Schnorrenberg
Investor Relations Manager
Telefon: +49(0)40-53930-723
E-Mail: t.schnorrenberg@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: Prime All Share, CDAX, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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