Mumbai, June 6: Suzlon Energy today announced that it was acquiring Areva’s 30 per cent stake in REpower Systems AG of Germany.

The Indian wind power equipment manufacturer, which is the world’s fifth leading wind turbine maker with a 10.5 per cent global market share, today informed the Bombay Stock Exchange that it had signed a share purchase agreement with Areva.

Areva, the world’s largest nuclear power plant maker, will have a capital gain of 350 million euros from the stake sale.

The latest acquisition will consolidate Suzlon’s total holding in REpower to approximately 66 per cent.With this acquisition and through voting pooling agreement with Martifer of Portugal, another major shareholder in REpower, Suzlon now enjoys voting rights of about 89 per cent in the company subject to certain minority protection and other rights.

Tulsi Tanti, chairman and managing director of Suzlon Energy, said, “This is an important step forward demonstrating our unchanged long-term commitment towards REpower.”

Suzlon Energy acquired a stake in the German wind turbine maker for 1.35 billion-euro (about Rs 7,314 crore) bid, with a cash outflow of 250 million euros in 2007.

On the company’s fourth quarter results last month, Tanti had said his company could offload a part of its equity in REpower to create more value for the shareholders since the shares were at a high. Suzlon acquired the REpower stake last year at 150 euros per share. Late last month, the shares were quoting at 238 euros on the Frankfurt bourse, a gain of over 60 per cent since the stake was acquired.