REpower FY10 net income up 11.5% to 57.93 mn euros

FRANKFURT/NEW DELHI: German wind turbine company REpower, which is controlled by India's Suzlon Energy, on Friday reported a 11.54 per cent growth in net income to 57.93 million euros (USD 71.87 million) for FY'10.

The profit was driven by new equipment installed by the company in US and Asian markets. REpower had posted a net income of 51.93 million euros in the previous year, it said in a statement.

The company's total revenues grew by 8.33 per cent from the previous year to 1.3 billion euros for the year ended March 31, 2010. Newly installed output, or the new equipment installed by the company worldwide, increased by more than 37,460 megawatts to nearly 1,57,900 megawatts, driven by the US and Asia.

The newly installed output from the company's India operations went up by 3.4 per cent to 1,271 megawatts. In China, it rose by 34.7 per cent to 13,000 megawatts, while in the US, output increased by 26.5 per cent to 9,922 megawatts.

The Global Wind Energy Council (GWEC) expects the wind power market to grow to over 200 billion euros over the next two years from 30 billion euros at present. "Asia, North America and Europe will be primary growth markets. The Asian market is set to grow fastest over the next few years," it added.

For the 2009-10 fiscal year, REpower received orders for 1,280.3 MW of turbine capacity, a 16 per cent growth from the previous year. During the year, REpower added 322 employees, taking the total to 2,097 worldwide.

REpower said, "Global economy will continue its recovery in 2010... China and India will remain the engines for growth, along with other Asian countries and Latin America."