Launch of sales in Romania

Already since 2007, Repower has had a base in the Romanian capital of Bucharest and we also maintain trade relationships to this country via our trading offices. In 2010, we took another important step in developing this key market. We reached an agreement with the former owner to acquire the distribution company, Elcomex EN. Elcomex EN focuses on selling electricity to business customers in Romania – similar to Repower's existing operations in Italy and Germany. Elcomex EN is thus an excellent fit for the Repower business model. Elcomex EN has a market share of approximately 6 % of the liberalised Romanian electricity market, selling around 1 TWh of power in 2009 to generate sales revenues of some EUR 70 million. Revenue developed positively in 2010, increasing by around 16 %. This underscores the market potential we see in Romania. Intensive efforts are now underway to integrate Elcomex EN and we are also building up our capacity to generate power in Romania.