A new and seemingly powerful wind investment company has set up in Spain. Eolia Mistral de Inversiones was founded last month by financial consultants Nmas1, international bank Bankinter and private investor Miguel Salis, cofounder of telecommunications firm Jazztel. The joint venture starts life with a capital base of EUR 75 million and initially aims to invest EUR 250 million in renewables, mainly wind, across Spain and Portugal over a four year period. Eolia Mistral says it has already committed to two wind projects ready for development with a combined capacity of 55 MW in the Spanish regions of Castile-La Mancha and Castile and León. The projects will take up 20% of the initial investment forecast. Eolia Mistral also has its sights on 150-200 MW of wind projects in other Spanish regions. Salis, CEO of Eolia Mistral, has not commented on the option of raising money on the bond market, as had previously been planned by Nmas1.