REpower appoints Suzlon as sales agent for US and Australia markets • Suzlon to support sales of REpower turbines in USA and Australia/ New Zealand • Agreement to accelerate REpower’s growth in these markets Hamburg, 11 January 2010. REpower Systems AG (WKN 617703) and Suzlon Energy Limited have entered into an agreement wherein local Suzlon subsidiaries in the US and Australian/New Zealand markets will support REpower as sales agents. Beginning immediately, this agreement will expand REpower’s market visibility and presence and contribute to the ongoing sales activities of REpower USA Corp. and REpower Australia Pty. Ltd. Under this agreement REpower will maintain the entire project management, service, and technical support responsibilities for all REpower turbines sold within those markets. Through this new relationship, REpower will benefit from Suzlon’s market knowledge and customer network. Suzlon in the US and Australian markets is represented by teams with considerable depth of experience, established presence and relationships – which will allow REpower to rapidly penetrate and strengthen its business in a dynamic, competitive environment. With more utilities and investors seeking global renewable portfolios, the agreement provides both companies a major competitive advantage by allowing customers to select a mix of products 1
best suited to their particular requirements from the range of Suzlon and REpower turbines, and combining it with global reach and delivery capabilities. REpower CEO Mr. Per Hornung Pedersen said, “We have great confidence in Suzlon’s sales capabilities and are happy that they have taken REpower’s agency, as this allows us to bank on their vast experience in the US and Australian markets, thereby boosting our own sales activities of REpower’s high performance products in these countries. Given the projected increase in demand in the short to mid term in these key markets, our agreement comes at the right time.” Commenting on the agreement, Mr. Sumant Sinha, COO of Suzlon Energy said, “This is a positive step for Suzlon and REpower. It leverages our complementary strengths and product ranges and allows us to reach more customers with products and solutions tailored to their exact needs. We are confident that the agreement will drive growth for both companies and create value for all our stakeholders.” Australia and US are key growth markets for wind energy. Governments in both countries have recently adopted various policies to stimulate investment in renewable energies which would result in a steady growth in demand for wind energy within these markets. The Renewable Energy Target (RET) legislation, enacted earlier this year by the Australian Government, sets an ambitious target of 20 per cent of all electricity coming from renewables by 2020. In the US, the American Recovery and Reinvestment Act of 2009, significant financial support is available to wind energy projects installed before 2012. In addition several US states have also set varied targets ranging from five to 30 percent. About REpower: REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops produces and markets wind turbines with rated outputs of 2 MW to 6.15 MW and rotor diameters of 82 meters to 126 meters for almost any location. The company also offers a comprehensive portfolio of service and maintenance packages. The profitable and reliable systems are designed at the REpower development center in Rendsburg and manufactured at its Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven plants. With over 1,900 employees worldwide, the company, which has been listed since March 2002 and is headquartered in Hamburg, can make use of the experience gained from the manufacture and installation of
over 2,000 wind turbines around the world. REpower is represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the UK, Italy, Portugal and Spain as well as on a global level in the USA, Japan, China, Australia and Canada.
Contact: REpower Systems AG Daniela Puttenat Corporate Communications & Public Relations Tel.: +49 – 40 – 55 55 090-3024 Fax: +49 – 40 – 55 55 090-3900 E-mail: firstname.lastname@example.org
Thomas Schnorrenberg Investor Relations Tel.: +49 – 40 – 55 55 090-3051 Fax: +49 – 40 – 55 55 090-3900 E-mail: email@example.com
For more information on Suzlon, please visit: www.suzlon.com. For press information on Suzlon, please contact: Edelman India Abhinav Srivastav Mumbai, India +91 (98923) 23750 Abhinav.Srivastava@edelman.com
Published on Jan 11, 2010