Tulsi R. Tanti new Chairman of the Supervisory Board at REpower Systems AG

The company’s Annual General Meeting was held today in Hamburg

(PresseBox) ( Hamburg, )
Today, Mr. Tulsi R. Tanti has been appointed as a new member of the Supervisory Board at REpower Systems AG (WKN 617703) and elected as Chairman of the Supervisory Board in the meeting of the company’s Supervisory Board which was held following this year’s Annual General Meeting in Hamburg. Dr. Rolf Bierhoff had earlier stepped down as a member of the Supervisory Board. Mr. Tanti, Chairman of the Indian wind turbine manufacturer, Suzlon, succeeds Mr. Bertrand Durrande (AREVA S.A.), who had been Chairman of the Supervisory Board since February 2006 and is from today Vice Chairman of the Supervisory Board.

Now that the takeover bid for the Hamburg-based company has been concluded, Suzlon controls 87 percent of the REpower voting rights. In conjunction with the Suzlon Group, REpower Systems AG intends to position itself quickly in the worldwide rapidly expanding wind energy market: to do so, it is essential to procure components quickly and to secure the financing for major projects such as offshore wind farms. The incorporation of the Suzlon Group by Tulsi Tanti, the new Chairman of the Supervisory Board, is expected to make a considerable contribution to the company’s sustainable growth and to securing the German sites and jobs in the long-term.

This year, Tulsi Tanti attended his first REpower Annual General Meeting in Hamburg as a major shareholder in REpower Systems AG. At the meeting, the shareholders of the company once again declared their support. All items of the agenda were adopted with clear majorities according to the recommendations of the Management Board and the Supervisory Board. Only around 63 percent of the voting capital was represented at the Annual General Meeting. One portion of the shares which were offered to Suzlon during the takeover bid could not be transferred in time to meet the deadline for registration.

In his speech, REpower’s CEO Prof Fritz Vahrenholt emphasised the importance of rapidly developing the offshore industry for Germany: “We have prepared for this development with our REpower 5M offshore turbine. By the end of 2011, we aim to have produced between 200 and 250 turbines of this type. We laid the foundation for achieving this with the decision to construct production facilities in Bremerhaven.” He continued: “Another important component of our corporate strategy is to open up new markets, now with a partner like Suzlon.” Moreover, in view of the current lack in German engineers, he calls on the Federal Government and the Federal States to abolish tuition fees for engineering courses of studies: „Not just this country, but also REpower needs more engineers.“
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