REpower and SUZLON found joint RETC - Renewable Energy Technology Centre
Hamburg (euro adhoc) -
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Hamburg, 07 February 2008. REpower Systems AG, the third largest German manufacturer of wind turbines (WKN 617703) and SE Drive Technik GmbH, a subsidiary of REpower´s major shareholder, SUZLON Energy Ltd., founded the Joint Venture "Renewable Energy Technology Center GmbH" (RETC) in Hamburg, in which each firm holds a 50% stake. The aim of the RETC is to combine forces and to cooperate strategically in the field of research and technical training in the future.
Alongside the two technical core activities, product development and technical services - carried out by both companies independently of one another - a globally operating centre is to be created. This would act as a third pillar, where the fields of research, innovation, training, validation and technical processes will become focus points.
"In RETC, we intend to implement innovative projects concerned, for example, with new materials and manufacturing processes, with increasing efficiency or with new drive concepts - in short, with everything that will significantly influence the development of the next REpower turbine generation", explains Matthias Schubert, REpower´s Chief Technical Officer and, along with Thorsten Spehr of SUZLON, future Managing Director of RETC. Thorsten Spehr continues, "We are sharing resources in this case and together we can implement investments, which neither REpower nor SUZLON has been able to do alone in the past."
As part of RETC, an academy offering high-quality technical training and qualification schemes is also due to be established from the very start, initially on the basis of collaborations with universities. In the medium term this is to be supplemented with own training courses. "Our aim on the one hand is to interest engineers in our fast-growing companies and train them in our specific requirements. At the same time we intend to establish an international network with universities and research institutes, in order to respond to the growing scarcity of qualified engineers and technicians," Mr. Schubert and Mr. Spehr both emphasize.
The new company will have its headquarters in Hamburg; at first, RETC will move into offices in its own section of REpower´s company headquarters. There are plans to establish international subsidiaries of RETC in the future, in order to use the expertise available in the particular areas.
The Indian SUZLON Group acquired 86.5% of the proportion of the voting rights in REpower last year. Shortly afterwards, both companies announced that they would be using synergies in the future and cooperating strategically. The founding of RETC is the first important step into this direction. In its first financial year the RETC is expected to employ 40 people. To this end, a management team is being sought to advance the establishment of a new technology centre.
end of announcement euro adhoc
Further inquiry note:
Thomas Schnorrenberg
Investor Relations Manager
Phone: +49-40-55 55 090-3051
Email: t.schnorrenberg@repower.de
Branche: Alternative energy
ISIN: DE0006177033
WKN: 617703
Index: CDAX, Prime All Share, Technologie All Share
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