Project developer Eneólica unveils renewables investment plan

Portugal's Eneólica has unveiled a EUR 73 million ($98.7 million) renewable energy investment plan, with over half of the money going into the development of two wind power projects. "Construction work on the Marvila Wind Park in the Batalha district was initiated in May and should be completed by May 2008," says the company's Agostinho Ribeiro. The 12 MW, EUR 17.2 million project is to be built using six Repower turbines. The next project, the EUR 28 million 20 MW Serra do Sicó Wind Park in the district of Pombal, is due online at the start of 2009, Ribeiro adds. It is being developed in partnership with Térmica Portuguesa. Repower, Enercon, Suzlon, DeWind and Gamesa have been invited to tender for the project. The rest of the money is slated for biomass, wave and solar energy projects.