Consortium headed by Galp Energia and REpower wins bidding for Government Tender in Portugal covering 400 MW

Hamburg, 18 July 2007. The bidding consortium headed by the Portuguese Energy Company Galp Energia, represented by the Holding Ventinveste, won the bidding for the Portuguese Government Tender about a wind energy project with a projected capacity of 400 megawatts. The governmental body DEEG (Direcção Geral da Energia) of the Portuguese Ministry of Economic Affairs officially communicated this news to the consortium which is composed of the companies GALP, Grupo Enersis, Martifer, REpower Portugal and REpower Systems AG and EFACEC. For several months, Ventinveste has been leading in the second lot and has thus stayed ahead of the remaining adverse bidder, the consortium Novas Energias Ibéricas (amongst others consisting of Iberdrola and Gamesa).

The implementation period of the tender is supposed to be five years from 2008. Ventinveste had handed in its bidding offer of all in all more than 11,000 pages in March 2006 already.

„In this case you are right to say: ‘Slow and steady wins the race’’”, commented Prof. Dr. Fritz Vahrenholt about the award of the bid by the Portuguese Government. He is the CEO of the REpower Systems AG, the third-largest manufacturer of wind turbines in Germany which is represented in the consortium. He adds: “Right from the beginning, our partners in the consortium showed that they have confidence in the technology and efficient competence of REpower. Now, we will make all relevant provisions in order to further improve our position on the Portuguese market.”