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TuuliWatti Oy and Winwind Ltd. make a cooperation agreement for providing wind turbines

RELEASE 30.03.2010

The parties have made a long-term cooperation agreement to ensure providing TuuliWatti with wind power plants, which have optimal cost-efficiency, and which are well suited for Finnish conditions especially.

The parties of the agreement commit themselves to continuous product development especially regarding inland wind turbines. They also commit themselves to make sure that the products to be developed will form the best solution that the market can offer as regards the technical solutions, features, cost structure and performance characteristics of wind turbines. 

TuuliWatti will concentrate on building wind parks on land areas where wind conditions place special requirements for turbines, says TuuliWatti Oy's managing director Jari Suominen.

With the agreement, TuuliWatti commits itself to buy wind power plants from WinWinD. This presupposes that the parties are able to ensure the best cost-efficiency for the wind power plants delivered for TuuliWatti. For this, the parties commit themselves to continuously improve the performance and lower the total cost of the power plant.

Industrial wind power is a sub-area of pure energy production, in which Finland has a lot of potential.

TuuliWatti has eight ongoing wind park development projects in Finland. In the near future, the company will aim at building considerable wind power capacity in different parts of Finland.

WinWinD considers the cooperation agreement with TuuliWatti to be very important. "TuuliWatti's way of conducting business is very progressive and beneficial to both parties. With a long-term agreement, we will be able to offer a service that will help our customer to succeed in its business activity in an improved manner," says Jari Varjotie, manager of WinWinD's European operations.

TuuliWatti Oy was established in 2009 as a joint venture by energy company St1 and SOK. TuuliWatti Oy represents a new type of company in the Finnish energy market. Wind power projects typically take a long time and the handling of permits has its effect on the timing of the need for resources. The operation of TuuliWatti is based on a cost-effective model, in which the work contributed by the participating companies can be targeted flexibly as needed to the projects as they are advancing. The company's management consists of representatives of both partner companies.

Winwind Ltd. manufactures and supplies one and three megawatt wind turbines based on low speed technology. The company was established in 2000 and employs currently more than 600 persons worldwide. In addition to Finland, WinWinD turbines are running in Sweden, Estonia, France, Portugal, Czech Republic and India. WinWinD head office is located in Helsinki with assembly plants in Finland and India. The main owners are the Siva Group (India), Masdar (Abu Dhabi) and Finnish Industry Investment Ltd (Finland). For more information, see www.winwind.fi.

Additional information:

TuuliWatti Ltd., managing director Jari Suominen, tel. 050-595 6780, e-mail: jari.suominen(at)tuuliwatti.fi

Winwind Ltd., Jari Varjotie, manager, European operations, tel. 0400 419734, e-mail: jari.varjotie(at)winwind.fi