Coal, Gas, Wind

Areva acquires 21 per cent stake in REpower

28 September 2005 – Areva has purchased a 21.1 per cent stake in the German wind turbine manufacturer REpower hoping to benefit from the potential in offshore wind energy.

Areva said that REpower specialized in wind turbine technology particularly suitable for offshore turbines and the acquisition would reinforce its position in carbon dioxide free generation.

A company statement read: “Nuclear and wind energy complement each other in a balanced energy mix, with one supplying competitive energy as a basic product and the other additional energy depending on climate conditions.”

REpower currently employs 558 people and in 2004 posted revenues of €301m ($362m). According to the CEO of REpower Systems AG, Prof. Fritz Vahrenholt, the arrival of Areva as a strategic investor will safeguard the long-term future of REpower’s German locations and will strengthen its position to invest in projects in the future.

A statement from REpower read: “The entry of the Areva energy group will allow REpower to further extend its leading position in the wind sector and means the company is well positioned to benefit from the strong growth expected in the next few years, particularly in the offshore area.