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Swiss wind investor enters Albania market to sell wind credits to Italy
1 September 2007
Swiss renewables company Energymixx, which until now has only operated abroad in Italy, is entering the Albanian market with plans to acquire a 178 MW wind project. If successful, Energymixx and its strategic partner Eneris, described as an "incubator" for renewable energy projects, will "take responsibility for the largest wind station in eastern Europe," it says. Albania has a bilateral agreement with Italy whereby Albanian renewables electricity production is guaranteed full integration into Italy's green certificate trading system. "This leads to both a high remuneration and a high overall price for the energy produced," says Energymixx. The main shareholders in Energymixx are Compagnie Financière Céleste (40%), Eneris (10%), Faisal Bank (7.5%), and Fiduciaire du Large (5%). The company says its construction activities are financed "either directly at asset level by project finance and/or by a cross border leasing company, established in Europe and financed by Sukuk bonds (also known as Islamic bonds) to be syndicated and floated on Dubai Financial Exchange."
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