Morphic has signed a long term Co-operation Agreement with the Global wind turbine manufacturer Kenersys. Kenersys extends exclusive rights to market and sell its products of 2.0 & 2.5 MW capacity in Nordic countries, Baltic countries and non-exclusive rights in Poland.
This Co-operation agreement would facilitate Morphic to market and sell Kenersys wind turbine generators in Sweden, Norway, Denmark, Finland, Iceland, Lithuania, Latvia, Estonia and in Poland except to some of the Kenersys’s existing customers. The wind turbines would be manufactured in Kenersys facility in Northern Germany and would be shipped to Sweden. All the associated services including manufacturing of towers required for mounting Kenersys turbines would be executed by Morphic at its own factory in Sweden. In a long run Morphic would also contemplate to supply towers for Kenersys for its Global requirements. Morphic would also carry out the Operation & Maintenance of the Kenersys turbines in the above mentioned territories.
The Co-operation agreement signed with Kenersys will strengthen Morphic’s ambitious plan of broadening the product portfolio by introducing 2.0 & 2.5 MW wind turbines and has given Morphic an option to cater to the requirement of various customers in the territories. The first deliveries of Kenersys’s turbines would commence in 2009. The scope and the terms & condition of this agreement would be more or less similar to the agreement Morphic had signed with WinWinD for its products 1.0 & 3.0 MW wind turbines.
“This agreement with Kenersys will broaden our product portfolio & facilitate us to offer wind turbines to suit different markets & IEC type class wind regimes, both onshore & offshore. Our product portfolio comprises the MW class turbines of 1MW, 2MW, 2.5MW, 3.0MW & 3.5 MW. Kenersys’s turbines will complement both WinWinD’s and ScanWind’s turbines and would help us to increase our delivery capacity considerably. We can now deliver technically advanced & competitive wind turbines to yield maximum returns on investment for the customer,” says Jonas Eklind, President and CEO of the Morphic Group.
Mr. Kalyani, Chairman of Kenersys, said that “Kenersys is pleased to be associated with Morphic Group. Kenersys’s strategy is focused on technologically superior and reliable products and cementing long-term partnership with esteemed customers and suppliers globally. Kalyani Group already has a strategic presence in Sweden and this co-operation will further boost this. We look forward to fruitful relationship and long-term association with Morphic Group in the years to come.”
Kenersys was established by Kalyani Group of India (www.kalyanigroup.com) in 2007 as an integrated wind energy company focused on design, assembly and marketing of world class wind turbine generators. For this Kalyani group acquired RSBconsult, an established wind turbine design-and-consulting house with over 300 man years of cumulative wind power experience, based in Muenster, Germany, which is now its global technology centre. Kenersys has two operating units for assembling and marketing wind turbines – Kenersys Europe focusing on European markets and Kenersys India focusing on Asia Pacific markets.
In April 2008 First Reserve Corporation (www.firstreserve.com), US based leading energy thrived private equity firm, with over USD 12.5 billion funds under its belt and USD 1.2 billion invested and committed to alternate and renewable companies, invested in Kenersys.
Kenersys has global, aggressive and detailed plans that are well underway to emerge as a leading and competitive provider of wind energy products and services. It is developing a 2MW turbine with 82m rotor diameter and a 2.5 MW turbine with 100m rotor diameter for IEC Type Class II sites and can be installed at sites with high turbulence.
Kenersys turbines are robust, designed to withstand the different climatic & operating conditions and equipped with auxiliary power supply & converter control which enables the turbines to fulfil all stringent grid codes. The critical & the major components used in the Kenersys turbines are sourced from the reputed suppliers globally with proven track record and the components manufactured by such suppliers are already put into use in many turbines of different make globally. Kenersys has an option to develop hot & cold weather packages to address the extreme climatic condition.
For further information please contact:
Johannes Falk, Director of Investor Relations, Morphic Technologies AB
Tel.: +46 (0)70-676 7393, E-mail: [email protected]