Enel acquires a wind pipeline up to 1400 MW in Greece

  • Enel acquires a wind pipeline up to 1,400 MW in Greece

  • This acquisition adds up wind capacity to the already existing 127 MW the company runs in Greece

  • The pipeline projects will be developed in partnership with Damco Energy of the Copelouzos Group and International Constructional (Samaras group)

Rome/Athens — Enel today signed an agreement with Damco Energy of the Copelouzos Group and International Constructional (Samaras group) to participate in wind pipeline projects up to 1,00 MW throughout Greece by acquiring a 30% stake with the right to progressively raise its stake up to 80%. Through this agreement Enel will also have an option to participate to the development of additional 180 MW in Bulgaria, in an area adjacent to Thrace.

Those wind projects are located in the most windy areas of Greece, mainly in Thrace, where Enel already operates 63 MW, in Peloponnesus and in Evia, where Enel runs 16 MW.

Enel is the third largest operator of renewable energy sources in Greece with 91.3 MW of installed capacity and 36.1 MW under construction which will be up and running by year end. Through this transaction Enel will participate to the development of further 1400 MW in wind parks.

In Greece, Enel through the Enelco joint venture of which owns 75% has also been awarded the first tender of the Hellenic Transmission System Operator to build new gas fired generation capacity and therefore is soon starting the construction of a 443 MW CCGT power plant in Viotia, which is expected to start its operations at the end of 2010. Prometheus Gas (50% Copelouzos Group and 50% Gazprom Export) is the partner in the Enelco consortium with a 25% stake. The joint venture company also holds a 447 MW CCGT licence in Evros, close to the Greek border with Turkey.

Enel aims at becoming an integrated energy company on the Greek market with a well diversified generation portfolio, applying the most advanced technologies to respect the environment.

The further expansion of Enel's position in Greece is in line with the Group's global strategy in the renewable energy as well as with its position as the largest non-incumbent energy player in South-eastern Europe thanks to 900 MW of power generation in Bulgaria, 200 MW of wind pipeline projects, new coal plant development as well as 2.5 million customers in the electricity distribution in Romania and a coal power plant project under development in Albania.