SwissEnergy AG: Acquisition of the Spanish Wind Turbine Manufacturer MTOI

The Swiss company has reached an agreement with the Egyptian company ELSEWEDY ELECTRIC S.A.E. and its subsidiary ELSEWEDY Power for buying 100 % of their technology provider for gearless wind turbines.

MTOI Wind Turbines S.L. core business is the design, manufacture, installation and commissioning of direct drive wind turbines. The company sells a 1.65 MW power generator with different rotor blades due to wind conditions. On base of this proven technology, MTOI ?s engineers are developing a new 2.X MW wind turbine family, which shall be erected in spring 2016.

SwissEnergy describes its company aim as an asset portfolio manager in the energy sector and as a think tank for company development. The company wove a worldwide network with local experts, providing services in the renewable energy sector. An excellent manufacturer like MTOI with a convincing concept of a maintenance friendly technology has been a missing link in the value added chain.

Additionally MTOI is focusing on wind industry development at the places of electricity demand. The markets are requesting local content, technology transfer and capacity training for licensees. First in Russia MTOI starts to realise their industry establishment concept for a nacelle factory, a tower production and a rotor blade manufacturer.

ELSEWEDY ELECTRIC is an integrated energy solutions provider and one of the largest producers of electrical products worldwide with 30 production facilities in more than 16 countries worldwide, exporting cables, smart meters and power transformers up to 220kV to more than 110 countries around the world (Africa, Middle East, Europe and the Far East). In addition, ELSEWEDY ELECTRIC executes large projects as EPC contractor for power generation, transmission and distribution projects.

ELSEWEDY ELECTRIC is a regional pioneer in the field of wind energy both in terms of manufacturing and in terms of development. ELSEWEDY ELECTRIC won an Egyptian international auction to build, own and operate six wind farms on the Red Sea coast with a capacity of around 100MW each. The company owns and operates a factory in Egypt that is specifically dedicated for the manufacturing of wind towers with a capacity of 100 towers per year extendable to 300 towers per year.

Both Elsewedy and SwissEnergy have reached an agreement to aid one another in component delivery and service providing for power plants.