Plans for an 80 MW wind station at Chiusano in Italy, 100 kilometres east of Naples, have been put on hold. German company BVT Energie und Umwelttechnik, a developer of alternative power plant, was developing the project with Siemens Nederland. It had hoped to have the station on-line at the end of 2002. "But problems have arisen with construction permits. We are still negotiating," says BVT's Claudia Pregler. "Italy will be a lucrative market. We are looking at other potential projects," she adds. The BVT group markets "closed-end wind funds" in Germany to raise equity for financing wind stations. Raising money for Chiusano would have been its first wind fund for a foreign project. The German wind fund model puts project ownership into the hands of a limited liability company, with private investors participating as limited partners.