Vergnet to sell Sinovel turbines

FRANCE: Turbine manufacturer Vergnet will sell Sinovel turbines in France and the Caribbean, plus countries in the Pacific and Indian Ocean regions as the two companies sign a distribution agreement.

Sinovel's 1.5MW and 3MW turbines will be sold by Vergnet in selected regions
Sinovel's 1.5MW and 3MW turbines will be sold by Vergnet in selected regions

Vergnet has agreed to sell Sinovel's SL1500 1.5MW and SL3000 3MW turbines. The 1.5MW turbine will be available to project sites prone to cyclones, the Chinese manufacturer said.

In the long term, Sinovel said it would consider moving some production operations to France.

Vergnet chairman Jerome Douat said: "With our expertise in the construction of turnkey renewable energy facilities, and Sinovel's highly competitive machines, this partnership will allow us to establish a position in the construction of major wind farms – a market offering considerable growth potential.

The French manufacturer already markets 200-275kW two-bladed turbines. One model can be lowered in the event of high winds.

Sinovel is looking for a stable period after two tumultuous years, which saw it lose its number one manufacturer spot in China and become embroiled in legal disputes.

In April, the company reported a net profit of CNY 80.73 million ($13 million) in 2014 following negative net profits for 2012 and 2013. The listed company was warned in May 2014 by the Shanghai Stock Exchange of the possibility of being delisted on the stock market if it recorded negative results for another year.

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