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Greek firm to buy 42 MW

RF Energy, a renewables developer and operator 40% owned by Greece's FG Europe, has signed an initial agreement to buy 42 MW of operating capacity in Greece from an unnamed "international infrastructure development company." The volume of capacity matches that which Babcock & Brown says it wishes to sell. RF Energy expects to close the deal within six months, subject to certain conditions. It currently owns 15 MW of installed wind capacity and will commission a further 10 MW at Kylindria, in Macedonia, in coming weeks. It plans to invest EUR 250 million in developing or buying around 430 MW in Greece and Southeast Europe by 2010. At present, the firm says it has nearly 900 MW of wind and hydro projects in the pipeline.

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