REpower sells 25 MW “Büttel” wind farm to Allianz

Hamburg/Munich, December 03, 2007. REpower Systems AG (WKN 617 703) has agreed to sell the Büttel wind farm in Schleswig-Holstein (Northern Germany), which it developed itself, to a subsidiary of Allianz once it has been successfully put into operation. The wind farm consists of five REpower 5M type wind turbines. The transaction is currently subject to approval by the relevant antitrust authorities. It was agreed not to disclose the purchase price.

The wind farm with a total output of 25 megawatts, comprises five REpower 5M wind turbines with a hub height of 117 metres and is expected to supply 75 million kilowatt hours (kWh) of energy each year. This amounts roughly to the electricity needs of 20,000 households and annual savings of approximately 50,000 tons of CO2 compared to electricity generated using fossil fuels.

REpower itself performed the project development activities for the wind farm. Also noteworthy about Büttel is that it is the largest wind farm consisting entirely of wind turbines of the 5 MW class which were produced in a mobile production hall in the immediate vicinity of the project location.

“The sale of this project to Allianz again proves that wind power is an attractive technology investment for institutional investors. Based on the experience we acquired with ten installed REpower 5Ms, we can demonstrate the positive operating performance of this turbine class and move towards large scale production,” said Professor Fritz Vahrenholt, CEO of REpower Systems AG.

David Jones, CEO of Allianz Specialised Investments, added: “We are very pleased to acquire the Büttel project which utilizes REpower's new 5M turbine. Not only is the project an attractive investment in its own right but, in addition, it will provide us with direct operating experience with one of the leading offshore wind turbines. The offshore wind sector is one which we expect to grow considerably over the coming years and is an area where we are actively seeking to invest.”