Italy

Italy

Energy group EnerTAD invests in 40 MW wind farm in Apulia

Italian renewable energy group EnerTAD will invest EUR 50 million in a new 40 MW wind farm in the southern region of Apulia. Work on the first 30 MW of the project in Troia-San Cireo, next to an existing EnerTAD wind farm in Troia-San Vincenzo, is underway and expected to be complete later this year. The remaining 10 MW should be installed in 2006. While a contract has not yet been sealed with a turbine supplier, EnerTAD's Andrea Baccigalupi says the group plans to use 2 MW turbines for the project, which will have an annual output of 85 GWh. The company already has 50 MW of wind capacity operating in Apulia and Lazio. The latest project will bring EnerTAD, whose shares are quoted on the Milan stock exchange, a step closer to its goal of installing 200 MW of wind power by 2006 and as much as 300 MW in 2008. EnerTAD says it will grow by tapping into a 350 MW portfolio of secured options with independent promoters. The Troia-San Cireo wind farm will be paid for both through EnerTad's own financial resources and through a project finance deal now being negotiated. EnerTAD's wind activities posted revenues of EUR 1 million last year, up from EUR 300,000 in 2003.

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