France - REpower signs contract for 12MW wind energy project

Suzlon-subsidiary REpower Systems SE concluded a turn-key contract for the delivery, construction and maintenance of six wind turbines for the La Chaude Vallee wind farm in Northern France. The wind farm is being developed by Epuron France with the support of Impax, private equity fund managers. This project will generate a total output of more than 12 megawatts (MW).

REpower Systems SE will supply six MM92 wind turbines with a hub height of 80 meters and a nominal output of 2.05 MW each for this wind farm. These will generate approximately 35,000 kilowatts-hour per annum, representing the energy consumption for approximately 14,000 households**.

This project financing of around 20 million Euros (including a VAT facility), partly provided by Natlxis Energeco, covers the total cost for the development and the realization of this project. A turn-key contract including the supply of the wind turbines, the construction of the infrastructure, the erection and grid connection equipments, has been signed with REpower Systems SE, committed to work with French companies for the construction.

Speaking on the project, Mr. Jean-Baptiste Godmet, MD - Epuron, said: "We are glad that Epuron team, supported by Impax, has successfully completed the development phase for the project La Chaude Vallee despite a challenging market environment. All the team is satisfied to lead this project, started in 2003, to this final phase. We have chosen REpower for the quality of their turbines and their ability to adapt to our expectations."

Funds managed by Impax completed the acquisition of Epuron in 2010 and have been working closely with the teams in Paris and Hamburg to build out the significant development pipeline.

Mr. David Trafford-Roberts, Investment Director - Impax, noted: "We're delighted that the Epuron team has successfully developed and financed the Chaude Vallee project in testing markets. We expect that the team will begin construction on a further 100 MW over the next six months in France and Germany."

Added Mr. Olivier Perot, Managing Director - REpower S.A.S.: "We are proud that Epuron and Impax chose REpower. This contract shows the confidence placed by the customers in the quality of our turbines and service as well as our expertise to conduct successful turn-key projects. We expect further projects in France with Epuron and Impax In the near future."

The stock was trading at Rs.22.25, up by Rs.0.85 or 3.97%. The stock hit an intraday high of Rs.23.25 and low of Rs.21.50. The total traded quantity was 127.70 lakhs compared to 2 week average of 60.11 lakhs.

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