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Acciona Energia's 500 million Euro investment

Spain's global wind plant major Acciona Energia has announced it will invest EUR 500 million developing around 350 MW in Greece over the next five years. "Greece is a promising country, although in the last years the development has been slow," the company says. "The government's goals are ambitious but reachable." Greece aims to generate 20.1% of its electricity from renewables by 2010 and 18% of all energy by 2020. This will require an estimated 6000-10,000 MW of wind power. Acciona already has 34.85 MW up and running at Panchaiko I, near Patras in the Peloponnese, powered by 41 Vestas 850 kW turbines. It is also installing another 16 Gamesa 850 kW units at the neighbouring Panchaiko II site, with completion expected by the end of the year. Both plants are owned 72% by Acciona and 28% by its local Greek partners.

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