Offshore Wind Turbine Rotor Blade Manufacturer Expects Growth

AREVA has signed an agreement to acquire PN Rotor GmbH, a German manufacturer of high performance rotor blades for offshore wind turbines from Prokon Nord Energiesysteme GmbH.

With this strategic acquisition, AREVA strengthens its competitiveness in the fast growing offshore wind market.

Anil Srivastava, CEO of the AREVA’s Renewables business unit, said: “This acquisition reinforces AREVA’s ability to bring value to its offshore wind customers by securing the supply of a broader range of key components. The group is on track to become a major player in this rapidly growing sector.”

AREVA’s wind power business is on a significant growth path, as illustrated by the recent signature of a binding Memorandum of Understanding worth more than €700M to supply 80 M5000 offshore wind turbines for the 400 MW German Global Tech I wind farm in the North Sea.

The worldwide offshore wind market is expanding rapidly, particularly in Europe where projects in the pipeline are estimated at 37 GW.

Subject to customary conditions, the acquisition is expected to close in the next months

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Posted by Gordon Smith on Aug 24 2009. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry