Senvion wins conditional order for 250 MW in India

Senvion wins conditional order for 250 MW in India

Hamburg/Mumbai: Senvion has been awarded a 250 MW conditional order by an SPV of Continuum Wind Energy Ltd. The agreement includes the turnkey supply and commissioning of the entire windfarm comprising 108 Senvion 2.3M130 turbines for the Bhuj wind project in the Gujaratstate in north-west India. The project scope includes a 20-year comprehensive operations and maintenance (O&M) contract.

The Bhuj project will comprise Senvion 2.3M130 wind turbines with a hub height of 130m. This is the second large scale order for the new launched turbine of the 2.XM class within a week, which shows the global competitiveness of the turbine. Continuum Wind Energy has already won a Power Purchase Agreement (PPA) for the project in the round 4 bidding from Solar Energy Corporation of India Limited (SECI), which is a company of the Indian's Ministry of New and Renewable Energy. The high number of public auctions are reflecting the growing emphasis on renewable energy in India. Continuum has achieved advanced development of the project and upon execution of PPA, execution of definitive contracts between Continuum and Senvion, and financial closure. The installation of the turbines is expected to start in the second half of 2019 and is planned to be completed by the beginning of 2020. The turbines will supply enough energy for almost 288,000 Indian households.

David Hardy - Executive Director and CSO of Senvion, said: "This order illustrates our intent to provide optimized technological solutions for our customers and reflects our ambition to establish Senvion as trusted local partner in key countries, such as India. We want to thank Continuum for our close cooperation and the order of our 2.3M130 in India. This is a milestone for us and shows that technological pioneering and strong partnerships are key for succeeding in highly competitive markets."

Arvind Bansal, Chief Executive Officer of Continuum Wind Energy Ltd. said: "Continuum is excited to be partnering with Senvion to execute our largest wind project to date. Senvion's commitment to technical excellence is the main reason for our partnership with Senvion. With this, we emphasize our claim to support India's ambitious goal to achieve an installed capacity of 175 GW of renewable energy sources till 2022."

Amit Kansal, Managing Director of Senvion India, said: "This conditional order for the new Senvion 2.3M130 turbines is the testimony of Senvion's ability to launch new technologies to meet market demand to consistently lower the Levelized Cost of Energy. This is the first announced order in India for a 130m rotor in the 2MW class turbine."

With this contract signature, the total order book of Senvion in India in 2018 is now approximately 680 MW.

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 4,200 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 Continuum Company:
Continuum Wind Energy is one of India's leading independent wind power producers with a portfolio of 524 MW of operating capacity, 30 MW under construction, additional 1000 MW ready to construct and approx. 900 MW under development. It is majority owned by North Haven Infrastructure Partners, a US$ 4 Bn global infrastructure fund managed by Morgan Stanley Infrastructure (MSI), which has made multiple investments in Continuum Wind since 2012. Continuum has a strong execution track record with experience of executing projects in Maharashtra, Gujarat, Madhya Pradesh and Tamil Nadu.

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