REpower to supply turbines to Sweden’s Klagerup Kraft
By IANSWednesday, September 15, 2010
NEW DELHI - REpower Systems, a subsidiary of wind power company Suzlon Energy, will supply three turbines to Sweden’s Klagerup Kraft AB, to be installed by 2011.
“REpower Systems, in which Suzlon Energy is the majority shareholder with a 90 per cent stake, has signed an agreement with Klagerup Kraft AB for delivery of three wind turbines to Sweden,” the company said in a regulatory filing Wednesday.
“The REpower MM92 turbines, each with a rated power of 2.05 MW are intended for a wind farm project near the city of Malmo in the Skane province,” it added.
The company did not disclose the financial details of the transaction.
“Sweden is an important market for the future of wind energy,” said Per Hornung Pedersen, chief market officer REpower Systems.
“The Swedish government’s concrete and ambitious goals for the expansion of renewable energy sources, the simplified planning and approval process, along with the joint certificate market with Norway, slated to be active by 2012, offers a supportive regulatory framework for wind turbine projects,” he added.
According to estimates by the Swedish wind turbine association, Svensk Vindenergi, there will be approximately 6,000 MW of onshore wind turbine capacity installed in the country by 2020. Currently, about a quarter of that has been implemented.
The Suzlon scrip touched a new 52-week high on the Bombay Stock Exchange, at Rs.51.75, up 0.10 percent from its previous close, at Rs.51.70.
