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Enertad enters French wind market
1 April 2008
Enertad, one of Italy's leading independent renewables producers, has launched itself into the French market with the purchase of five plant totalling 55.2 MW from Luxembourg-based Theta Energy. Through its French subsidiary EnerFrance SAS, Enertad paid EUR 29.5 million, though with EUR 52.7 million in debt the enterprise value was EUR 82.2 million. The plant, which were commissioned late 2006, are equipped with Nordex 2.3 MW turbines and are located in the Picardie and the Centre regions. Enertad's move into France marks its policy to diversify into different wind and regulatory regimes and to grow its capacity. The deal boosted the company's installed wind capacity to 132 MW. It is aiming at 390 MW by 2010, of which 169 MW is already permitted. Enertad is 51% owned by Italian energy group Erg.
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