Areva, world's largest nuclear power firm bids for wind power turbine maker

France's largest maker of nuclear reactors, Areva, has made a $1-billion unsolicited bid for Europe's leading wind turbine maker Repower of Germany.

The nuclear plant maker expects that the acquisition would give it access to the technology, financial means, and expertise to speed up development especially for offshore projects.

Repower is one of Germany's major wind turbine producers and is present in Europe, Japan, China, India and Australia.

Areva's unsolicited offer of €105 a share for the wind turbine firm, places a 17-per cent premium on the firm's closing price on Friday a move that would allow it to tap into the booming wind energy sector.

The climate change has fuelled a greater commercial interest in clean energy, as firms try to reduce carbon emissions and wind power firms are expanding rapidly and Areva's move comes after it said its operating income would be considerably lower for 2006 than in 2005, though it would remain well in the black.