REpower And Essar Form Agreement
NAW Staff, Friday 15 September 2006 - 01:00:00
REpower Systems AG, a Germany-headquartered turbine producer, has signed an agreement with the Essar Group, a conglomerate based in India, for the design and manufacture of 1.5 MW and 2 MW wind turbines in India and marketing in Southeast Asia. The companies have also agreed to set up a joint venture in the near future to allow access to 3 MW and 5 MW turbines, as well other future developments.
"We are happy to be associated with REpower for our foray into the wind energy business," says Anshuman Ruia, Essar's director. "We are confident that this is the beginning of a long and mutually beneficial relationship. The agreement comes at a time when there is a huge demand for power in India, and it also fits in perfectly with our strategy of diversifying into renewable energy sources."
According to the companies, REpower's 1.5 MW turbines are ideal for India's wind conditions. Essar adds that as of last March, India has approximately 5,300 MW of installed wind power capacity, and it will see an additional capacity of 1,700 MW to 1,800 MW in the current financial year.
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