ENEL EXPANDS PRESENCE IN WIND POWER IN GREECE

Published on Tuesday, 15 May 2007

  • Acquired wind plants, both already in service or under development for more than 127 MW
  • Enel continues to pursue its strategy of development of renewable energy sources and consolidation in South-eastern Europe

Rome, 15 May 2007 – Enel has signed an agreement for the acquisition in Greece of wind plants either already in service or under development with a total capacity of 127 MW.

In particular, the contract regards the acquisition of wind plants with a capacity of 84 MW already in service and 43 MW under construction. The plants are owned by the Greek group Copelouzos (50%), already an Enel partner in Enelco, which recently submitted the winning tender offer for the construction of a combined cycle gas plant of 430 MW at Livadia in central Greece, and by the International Constructional Group (50%).

The acquisition places Enel among the top three operators in the wind power production market, with plants distributed throughout Greece.

Also working through the Enelco Consortium (75% Enel and 25% Prometheus Gas, which is in turn equally owned by the Russian company Gazprom with a 50% stake and Copelouzos with the remaining 50%), Enel intends to expand its presence in Greece, a market where electricity demand is expanding above the European average. Enelco already holds two licenses for the development of combined cycle gas turbine plants at Viotia, in the centre of the country, and Evros, in the north east, and is evaluating the investment opportunities offered by future tenders for the construction of another two such facilities with a total capacity of 800 MW, on top of other opportunities that could arise both in the electricity and gas market.

Enel, in collaboration with its local partners, is seeking to become an integrated Greek energy company, with a generation portfolio well diversified by technology and fuel and a comprehensive presence around the country.

The expansion of Enel’s position in Greece is part of its growth strategy around the world in the renewable energy market and consolidation of the macro market for South-eastern Europe, where Enel is already present in Romania and Bulgaria.

Price Sensitive | May, 15 2007

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