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Senvion converts 42 MW Serbian contract into firm order Successful strategy to enter new markets

DGAP-News: Senvion S.A. / Key word(s): Contract Senvion converts 42 MW Serbian contract into firm order Successful strategy to enter new markets 22.06.2017 / 11:00 The issuer is solely responsible for the content of this announcement. Senvion converts 42 MW Serbian contract into firm order Successful strategy to enter new markets

Hamburg: Senvion, a leading global manufacturer of wind turbines, has closed the financial contract for the Alibunar wind farm in Serbia with Elicio NV, for the delivery, installation and commissioning of 21 Senvion MM100 turbines. The installation is planned to take place in the first half of 2018, ahead of schedule; originally, the installation was to be completed in the Fall 2018. Alibunar is located close to the Malibunar wind farm, where four Senvion MM100 turbines will be installed in the second half of this year for another project. Senvion will take care of servicing over a period of 15 years for both projects.

Jürgen Geissinger, CEO at Senvion, says: "We are happy to be building our first projects in Serbia, this, and early next year. Our activities in Serbia mark a milestone which reflects our successful strategy to enter in new markets. With a strong hub in Milan, Italy, Senvion is well positioned to serve the whole Southern European market very efficiently and the opening of a Senvion local branch in Serbia, we have the right team in place to be a strong partner for our customers in the Balkan region."

The Alibunar wind farm will be located in the village by the same name, 60 kilometers north of Belgrade. The 21 turbines with a hub height of 100 meters and rated output of two megawatts (MW) each will together produce enough energy to power around 27,600 households on average per year.

Carlo Schiapparelli, Managing Director Europe South-East at Senvion, adds: "The financial closing of the project is a benchmark for Senvion in Serbia. We thank Eolico NV for their continuous confidence in our services and products in different markets and are looking forward to this next positive cooperation."