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Greece

Greece

Italy's Enel to develop1400 MW

Italian utility Enel is looking to develop up to 1400 MW of wind power in Greece after signing an agreement with Damco Energy and International Constructional SA of the Samaras Group. Damco is a subsidiary of Greek industrial giant and wind power developer Copelouzos. Under the agreement, Enel acquires a 30% stake in the portfolio of Copelouzos and International Constructional, with the option to increase its holding to a maximum of 80%. The projects are all located in the wind-rich regions of Thrace, the Peloponnese and the island of Evia. The deal also includes the right for Enel to participate in the development of an additional 180 MW of wind power in Bulgaria. The three companies will develop projects jointly. This latest agreement builds on the purchase last year by Enel of 127 MW from the same two companies (Windpower Monthly, June 2007), of which 63 MW is already online in Thrace and 16 MW in Evia. Copelouzos and Enel also already co-operate as partners in Enelco, which is developing a combined gas cycle plant in Greece. The latest deal is part of Enel's strategy 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 company points out that demand for electricity in Greece is growing at above the average European rates, while little new generation is building.

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