Endesa to acquire wind farms in Italy from Gamesa

Nov 03, 2004 01:00 AM

Endesa Europa has signed a framework agreement with Gamesa Energia by which it will acquire from this company wind farms in Italy with a total installed capacity of 200 MW and equipped with wind turbines manufactured by Gamesa Eolica, in a period of three years. The operation will cost approximately EUR 250 mm in total.
Through this agreement, Endesa will obtain renewable generation assets in Italy amounting to 3 % of its total installed capacity in this country.

Last July, Endesa acquired the Florinas wind farm in Sardinia (Italy) from Gamesa Energia. The wind farm is close to the Fiume Santo power plant owned by Endesa, and has installed capacity of 20 MW, which may be increased by a further 20 MW once the relevant authorisation has been obtained. It has an estimated net output of 42,000 MWh/pa.
The agreement underscores Endesa's commitment to the environment and sustainable development in those markets in which it is present by incorporating sufficient installed capacity in renewable energies its generation mix to allow it to take advantage of any opportunities which may arise in this field and maintain a well diversified generation structure.

The agreement will also ensure that 60 % of the "green certificates" the group requires in the Italian market are provided for.
Overall, Endesa has total installed capacity of 2,123 MW in cogeneration and renewable energy plant in the markets in which it operates. Of this, 1,557 MW correspond to renewable energy plants located in Spain and Italy, 459 MW to cogeneration and waste treatment plants in Spain and 107 MW to cogeneration plants in Portugal, Colombia and Mexico. In 2003, 5,486 GWh of electricity was generated using renewable and cogeneration energies.

For Endesa, the agreement also signifies another important step forward in the Italian market, where the group is one of the main operators, and underscores its commitment to electricity generation using renewable energy, especially wind energy.
Gamesa started operating in Italy five years ago through its subsidiary Gamesa Energia Italia, and has developed rapidly, expanding into all areas with wind energy potential in this country. The group has a portfolio of projects in course comprising more than 70 wind farms with a network connection capacity of more than 1,900 MW.

The agreement will allow Gamesa Energia to move towards its strategic target of increasing its international wind farm sales and strengthen Gamesa Eolica's international presence through the sale of wind turbines to the main Italian operators.
Gamesa Energia is one of the leading developers of wind energy in the world today; it has installed capacity of over 15,000 MW at various stages of development, located in 15 different countries and its global expansion and growth strategy is becoming increasingly noteworthy.

Source: Business Wire
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