Merrill Lynch announced that it has made a private equity investment of about US$55 million (equivalent to Rs.218 Crore) in Vestas RRB India Ltd. (“Vestas RRB”), a leading producer of world class Wind Electric Generators (WEGs) in India.

“We are excited about the investment. It is our first and largest investment in the renewable energy sector in India and it endorses Vestas RRB’s leadership in the development of India’s alternate energy sector and the Company’s continuous efforts to add superior value in this business”, said Mr. David Noh, Managing Director and Head of Corporate Principal Investment, Merrill Lynch Asia Pacific.

Mr. Sarvesh Kumar, Deputy Managing Director, Vestas RRB has stated that “The investment will be used to meet capital expenditure being incurred in the establishment of the Company’s WEG Blade manufacturing facility at Poonamallee, Chennai, WEG Controller and parts thereof manufacturing facility both at Poonamallee, Chennai and in New Delhi and for the development of infrastructure required for setting up of wind farms”. Elaborating further he has stated that, “The Company is poised to expand its presence worldwide and is confident of obtaining a large share of the World Wind Power market for the technologically advanced, efficient and superior performing WEGs produced by it”.

About Merrill Lynch

Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories and total client assets of approximately $1.7 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns just under half of BlackRock, one of the world's largest publicly traded investment management companies, with approximately $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com

About Vestas RRB

Vestas RRB was incorporated in the year 1987 with the main objective of producing world class WEGs in India for harnessing of power from wind. Vestas RRB is an ISO 9001:2000 and 14001:2004 certified Company. Hundreds of Megawatts of wind power capacity based on different sizes of WEGs produced and installed for a number of clients by Vestas RRB India Ltd. are operating successfully at numerous locations in various States of India.

Vestas RRB offers custom-built turnkey solutions in the area of harnessing wind energy for power generation, which includes site selection, micrositing, preparation of detailed project report, project engineering, erection, commissioning and after sales service of the wind power projects.

For more information on Vestas RRB India Ltd., please visit www.vestasrrb.com