Senvion signs 205 MW project in Chile

Senvion signs 205 MW project in Chile
Global launch of 2.3M130 turbine with a strategic order from market leaders Global Power Generation (GPG) and Grupo Ibereólica Renovables

Hamburg: Senvion has signed a conditional contract with GPG and Grupo Ibereólica Renovables for the supply of turbines with a total capacity of 204.7 MW. The Cabo Leones II project is located in the Atacama region and is Senvion's largest project in Chile. The contract includes the supply of 89 Senvion 2.3M130 turbines and a long-term full scope service agreement for all turbines.

The installation of the turbines in the Huasco province in northern Chile will start in Q1 2020 and is planned to be completed before the end of 2020. With the launch of the 2.3M130 turbine, Senvion provides a tailored technology solution for low wind sites, being the newest turbine in the 2.XM platform it has been optimized to suit the project's challenging wind conditions. Cabo Leones II is another large-scale project which allows Senvion to continue its expansion into new markets and further underlines its long-term commitment to Chile.

Manav Sharma, acting Chief Executive Officer and Chief Financial Officer at Senvion, said: "We are very excited to win our first contract with the wind industry leaders GPG and Grupo Ibereólica Renovables. We would like to thank both corporations for their trust and the long-term partnership. The order win highlights the strength of our new product 2.3M130 and its ability to provide a competitive LCoE for the benefit of our clients. We are confident that this turbine will position us strongly in 2MW class markets worldwide, especially in India. The Cabo Leones II project further solidifies Senvion's market position in Chile and in South America as such and increases our commitment to the local communities."

Gregorio Álvarez, President of Ibereólica Cabo Leones II SA, said: "We are very pleased with the technological effort made by the German group Senvion, for the manufacture of a new model of wind turbine that substantially improves the production of renewable energy adapted to the location of the Cabo Leones II wind farm."

José Enrique Auffray, Director of Business Development of GPG in the Andean Area, stated: "This agreement is part of GPG's Development Plan, which establishes a growth strategy to accelerate the creation of value, through the development of a mix of rapidly developing technologies, such as renewables, as well as investment in growing markets, with Chile among the priority countries."

About Senvion:
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.33 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The Senvion systems are mainly designed in the major TechCenters in Osterrönfeld and Bangalore and manufactured at its German and Portuguese plants in Bremerhaven, Vagos and Oliveira de Frades as well as in Żory-Warszowice, Poland and Baramati, India. With approximately 4,500 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 7,500 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia, Japan, India, Chile and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.

About Grupo Ibereólica Renovables:
Grupo Ibereólica Renovables is an independent leading Group founded in 1996, focused on the Renewable Energy sector, with over 400 MW under operation (Spain and Chile), 300 MW assets under construction and additional 2.500 MW under development in wind, solar and hydro projects in Spain, Chile, Perú and Brazil.

About Global Power Generation (GPG)
Global Power Generation (GPG) is the company of NATURGY specialized in the business of generating electrical energy, in which the Kuwait Investment Authority (KIA) has a 25% stake. KIA is the oldest sovereign fund in the world, established in 1953. GPG's assets currently extend to 10 countries. We are the owners of a generation capacity of over 3,400 MW, we manage close to 4,300 MW and, at the time of writing, we are adding 330 MW in projects awarded.
 

Katrin Rosendahl
phone: +49 40 5555 090 3040
mobile: +49 173 3687 185
email: katrin.rosendahl@senvion.com

Senvion Investor Relations contact:
Dhaval Vakil
phone: +44 20 3859 3664
mobile: +44 7788 390 185
email: dhaval.vakil@senvion.com