Senvion's first supply contract in Chile totalling 299 MW achieves financial close

DGAP-News: Senvion S.A. / Key word(s): Change in Forecast/Contract

10.08.2017 / 14:32
The issuer is solely responsible for the content of this announcement.


Senvion's first supply contract in Chile totalling 299 MW achieves financial close

Hamburg/Santiago de Chile: Senvion, a leading global manufacturer of wind turbines, has been informed that the Chilean power generator Aela Energía achieved the financial close for its two wind projects Sarco and Aurora totalling 299 megawatts (MW). The conditional contract for the supply and installation of 93 Senvion turbines for the two wind farm projects in Chile was concluded in April 2016.

The completion of the projects is now scheduled for 2018. As a result and as indicated earlier, Senvion's forecast revenues will partly shift to 2018 leading to an adjusted revenue guidance for 2017 of EUR 1.9 - 1.95 billion. However, this is not expected to affect the guided adjusted EBITDA margin which will stay unchanged at 8.0 - 8.5 %. In the first half of 2017, Senvion had a firm order intake of EUR 940 million, 70 % higher compared to the first six months of 2016 without including the order in Chile.

Jürgen Geissinger, CEO of Senvion, said: "Chile and South Cone South America are a key part of our strategy of international expansion. With this major contract in Chile, we prove that our international markets strategy is now bearing fruits as we help new markets to reduce the cost of electricity from cleaner sources. Based on these two first Senvion orders in Chile, Senvion is now planted as a major player in Chile and we are certain that with our future turbine generations we can add even lower cost high reliability electricity to the region."

David Hardy, CSO (Chief Sales Officer) at Senvion, added: "Sarco and Aurora have been key projects for Senvion, both in terms of size and geographic expansion, but also in terms of partnership. The productive cooperation with Aela Energía combined with the dedication and ongoing motivation within the Senvion team has led to the successful financial close. We thank Aela Energía for their confidence in Senvion and for this positive collaboration. We look forward to building on this relationship in the future and to strengthening our close partnership with these two customers. We are confident that this relationship will be a strong basis for potential other projects in the future."

The Sarco and Aurora wind farms are owned by Aela Energia, a joint venture between Actis (60%) and Mainstream Renewable Power (40%). For the Sarco project, Senvion will supply 50 Senvion 3.4M114 turbines with a hub height of 93 meters and a rated output of 3.4 MW each. The Sarco wind farm is located in the Atacama region of Northern Chile. The Aurora project is located in the Southern Los Lagos region and will consist of 43 Senvion 3.0M122 turbines with a hub height of 119 meters and a rated output of 3.0 MW each.
 

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 6.15 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 systems are designed at the Senvion TechCenter in Osterrönfeld and manufactured at its German plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal. With approximately 4,500 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 6,600 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 and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.

 

Senvion Press contacts:
Immo von Fallois
phone: +49 40 5555 090 3770
mobile: +49 172 6298 408
email: immo.von.fallois@senvion.com
Marie-Danielle Laggner
phone: +49 40 5555 090 3040
mobile: +49 172 27 67 793
email: marie.laggner@senvion.com
 

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



10.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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