Wind Power: AREVA Sells Its Minority Stake in REpower

PARIS--(BUSINESS WIRE)--Regulatory News:

AREVA (Paris:CEI) announces the sale of its 30% stake in wind turbine manufacturer REpower to Suzlon, generating a capital gain of more than 350 million euros.

This announcement follows on from an agreement signed on May 24, 2007 by the two companies, giving AREVA the possibility of selling its shares to Suzlon at a guaranteed price.

The development of CO₂-free energy sources, including renewables, is at the heart of the group’s strategy.

In September 2007, the group strengthened its position on this market by acquiring a 51% stake in Multibrid, a German wind turbine manufacturer specialized in high-power offshore wind turbines.

The group’s spokesperson, said “Acquiring Multibrid gave us a firm foothold on the offshore wind market and access to state-of-the-art technology. It therefore made sense for us to sell our stake in REpower and concentrate on other strategic investments”.

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With manufacturing facilities in 43 countries and a sales network in more than 100 countries, AREVA offers customers reliable technological solutions for CO₂-free power generation and electricity transmission and distribution. We are the world leader in nuclear power and the only company to cover all industrial activities in this field. Our 65.000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group’s industrial strategy. AREVA’s businesses help meet the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations. www.areva.com

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