Swiss energy firms buy Spanish wind projects

SPAIN: Energy cooperative EBM and municipally owned utility Energie Wasser Bern, have acquired two Spanish wind farms totalling 70MW.

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Under a joint company, LSR, they have purchased two sites of 36MW and 34MW near Salamanca in the west of Spain, using 2MW Gamesa turbines, from Spanish firms.

The sites benefit from Spain's fixed feed-in tariffs and are expected to generate 180 million kWh per year, equivalent to the annual needs of 45,000 Swiss four-person households.

"Despite the difficult market situation the project financing amounting to a considerable sum was secured with three Spanish banks," the companies said.

The energy firms set up LSR to build up a European renewable energy portfolio focused mainly on wind energy.

Future investments are expected to amount to €215 million by 2015, Oliver Thalmann of investment consultant Aravis told Windpower Monthly.

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