Suzlon raises stake in REpower to 73.71%

Suzlon Energy Ltd has informed that the Company has acquired the first tranche of Martifer Group's stake in REpower Systems AG, Germany ("REpower") for a payment of approximately Euro 65 million. The transaction takes Suzlon's holding in REpower to 73.71%. Suzlon already holds 91% voting rights in REpower through an existing agreement with Martifer. Earlier this month, Suzlon and the Martifer Group entered into an agreement on a revised payment schedule for Martifer's 22.4 percent stake in REpower. As per the new terms, Suzlon acquires the stake in three tranches by payment of Euro 65 million in December 2008, Euro 30 million in April 2009, and the final tranche of Euro 175 million in May 2009, which will take Suzlon's ownership level to approximately 91% in REpower