LONDON (Dow Jones)--Cosalt PLC (CSLT.LN) Tuesday said it has bought a major stake in a unit of Danish engineering company APRO and formed a joint venture focused on the wind energy market. Cosalt said the move is part of its plan to develop a major renewables business in the U.K. and Europe. Cosalt said it has bought 80% of Cosalt Wind Energy Ltd, which was previously owned by APRO and has been renamed following the change in ownership, from APRO for an initial payment of GBP200,000 and a deferred payment of up to GBP430,000. The company said the joint venture firm has received a contract with Siemens AG (SI) to supply specialist engineers for its offshore wind turbine activities around the U.K. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires July 27, 2010 02:42 ET (06:42 GMT)