French nuclear engineering firm Areva has acquired a 21% stake in German wind plant manufacturer REpower as part of its strategy to invest in non-carbon emitting power technology.
REpower, based in Hamburg, specialises in high output turbine technology particularly suitable for off-shore turbines and also offers sales and industrial synergies with the Areva transmission and distribution division.
“Nuclear and wind energy complement each other in a balanced energy mix, with one supplying competitive energy as a basic product and the other additional energy depending on climate conditions. Neither emit greenhouse gases,” Areva said in a statement.
Although financial terms of the deal were not disclosed, Areva says it will provide REpower with the resources it needs to develop in terms of financial support and its knowledge of utility customers and grid managers.
The acquisition reinforces Areva's strategic position in CO2 free generation, the company said.