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 in a statement 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.