Unit Energy opens shop in Portugal

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Finertec Energia e Tecnologia of Lisbon has acquired a 49% stake in Unit Energy Portugal, the Portuguese subsidiary of German-based Unit Energy Europe, with an option to acquire a further 1% within the next 12 months. "Finertec is a strong partner with whom we can rapidly expand our market presence in Portugal," says Unit Energy Europe director, Bernd Weber. From Portugal, the company can move into the rapidly growing Spanish market, he adds. The Bad Homburg-based Unit Energy reports that Finertec is an electricity and district heating company operating eight small-scale combined heat and power stations and with a further 25 generation projects in planning. It is part of the Jose de Mello Group, one of the three biggest companies in Portugal, the company says. Finertec's engagement in Unit Energy Portugal is aimed at expanding wind but also biomass and hydro activities in the country. A listing on the Portuguese stock exchange is planned to drum up capital for the investments. Unit Energy Portugal operates a 2 MW wind station in the Algarve and plans to bring a 10.5 MW wind station, Vila do Bispo 2, into operation this year.

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