REpower and RWE Innogy agree on negotiations for framework agreements for up to 1,900 megawatts

Hamburg/Essen, 21 February 2008. Today, the REpower Systems Group (WKN 617703) and RWE Innogy, the RWE Group’s subsidiary specialising in renewable energies, have signed a Memorandum of Understanding (MoU), which provides for the negotiation of framework agreements with a volume of up to 1,900 megawatts. It involves some 250 offshore wind turbines of the 5M/6M type series and an approximate number of 200 further onshore wind turbines of the 2-megawatt class.

The intention is to conclude the negotiations on the framework agreements within the next three month or by the end of the year at the latest. The wind turbines should then be manufactured and delivered by REpower within a timeframe of 4 to 6 years, beginning on 1 January 2010.

Matthias Schubert, as CTO responsible for technology and development at REpower Systems AG, said: “The interest shown by an important global player such as RWE is renewed evidence for the outstanding quality of our products. We are confident that we can bring the negotiations to a swift conclusion and we look forward to the collaboration.”

Kevin McCullough, COO of RWE Innogy, added: “Wind power plays a decisive role on our path towards positioning RWE Innogy as the driving force behind tomorrow’s technology in Germany and Europe. Offshore wind farms especially place the highest demands on the technology implemented. I am certain that in REpower we have found a strong partner to push forward our goals in this area.”

RWE Innogy combines the expertise and the power stations of the RWE Group in the area of renewable energy. The company plans, constructs and operates turbines for regenerative electricity generation and energy production. The aim is the rapid expansion of electricity generation on this basis in the UK and continental Europe. The company’s focus includes on- and offshore wind farm projects in Europe. RWE Innogy began operating on 1 February 2008, currently has a generating capacity of around 1,100 megawatts and employs approximately 600 staff.