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Thursday, 28 November 2024

wind

Iberdrola to install 350 MW of wind power in Italy

Iberdrola, Spain's second largest utility and one of the world's largest renewable energy developers, has sealed a deal, defined as "a strategic alliance", with Italian API Holding, for the construction and exploitation of approximately 350 MW of wind power in Italia, at a cost of 500 million euros Iberdrola and API Nova Energia, a subsidiary of API Holding, will form a joint venture, shared at 50% and called Societa Energie Rinnovabili. "The goal is to develop seven wind power projects, which will be located in Sicily and Puglia, already in an advanced development phase", said Iberdrola. The projects will enter into operation in 2008 and 2009.

These wind projects will be added to the 200 MW that Iberdrola is already developing in Italy, which include 100 additional megawatts.

The operation will allow Iberdrola to reinforce its presence in the Italian wind industry by partnering with one of the country's main energy groups, commented the Spanish utility. API Holding, through API Oil, is Italy's third largest oil company, whose activities focus on the supply, logistics, refining and distribution of oil products, both in Italy and abroad.

"Our plans in Italy focus on the international expansion of Iberdrola in the renewable energy industry", said the utility. By the end of 2006, Iberdrola had a total capacity of 4,434 MW of renewable energy. From that amount, as much as 4,102 MW correspond to wind power, although its direct share is 3,860 MW.

For additional information:
www.iberdrola.es
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