Wind energy group Repower expects big boost to business

Business News

Mar 31, 2008, 13:32 GMT

Frankfurt - Indian-controlled wind turbine maker Repower said Monday it expected a sharp rise in business in the coming years as its production capacity more than doubles. Controlled by India's Suzlon Energy Ltd, Repower said it sees sales growing between 40 to 50 per cent during the 2009-2010 fiscal year. For its 2008-2009 business year, Hamburg-based Repower projected sales of 1.1 billion euros (1.74 billion dollars) and earnings before interest and tax (EBIT) of between 60 and 70 million euros. At the same time, the group said it hoped to more than double its production capacity in the next two years following strong growth in particular in Europe and North America. Meanwhile, rival Siemens AG said Monday it had secured an order for 130 wind turbines from US-owned Cascade Wind Acquisition LLC. Some 72 wind turbines, with a capacity of 2.3 megawatts each, will be supplied to the Windy Point wind farm, while the remaining 58 turbines will go to the Windy Flats wind farm, Siemens said. No financial details of the sale were disclosed.

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