Investment company expands wind portfolio in Italy

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The wholly owned renewable energy arm of Italian investment company Alerion Industries continues to expand its wind energy portfolio, with the acquisition of several projects in southern Italy. Alerion Energie Rinnovabili has bought 85% of Eolo Srl, which owns an 8.5 MW plant already operating in the region of Campania and a 15% stake in Dotto Srl, a company that is building a 20 MW plant on another Campania site. The renewable energy group is paying a total of EUR 5.3 million for the stakes in the two companies. With the Eolo acquisition, Alerion Energie Rinnovabili also has its first operational wind plant in Italy, while the 20 MW plant is expected to be up and running early in 2007. Beginning in July, Alerion also has an option to become the majority shareholder in that project. Total investments for the second Campania plant currently being constructed are seen at about EUR 25 million. Elsewhere, Alerion Energie Rinnovabili has signed preliminary agreements to buy 51% and 100% in two companies which respectively own the rights to build and manage a 28 MW plant in Sicily and a 34 MW plant in Apulia. Total investments of EUR 103 million are foreseen for these two facilities, which are expected to become operational in 2008. With the latest acquisitions, Alerion Energie Rinnovabili says it has 192 MW in wind projects already authorised and an additional 200 MW in the pipeline. Alerion Industries is also present in the wind energy business through its 17% stake in Italian wind developer EnerTAD.

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