REpower appreciates EEC compromise by the Arbitration Commission
Long-term investment guarantee restored
Hamburg, June 22, 2004. REpower Systems AG (TecDAX, WKN 617703),
leading provider of wind energy turbines in the multi-megawatt class appreciates the compromise achieved by the Arbitration Commission regarding the amendment of the Erneuerbare-Energien-Gesetz (EEG) (law governing renewable energies (EEC)). As a result of the amendments the period of raised compensation for power produced by wind energy has been extended noticeably; and the introduction of a minimum reference value at the locations in the amount of 60 percent now makes sense from an economic viewpoint. As Prof. Dr. Fritz Vahrenholt, Chief Executive Officer of REpower Systems AG stated: "an agreement in connection with the EEC amendment was long overdue. The lengthy discussions discouraged potential investors in the past and had a curbing effect on the market. The compromise reached now represents a reliable basis for calculating corporate investments in wind energy in the long term. I now see great chances that there will be installed more than 2,200 megawatts in Germany this year."