Mobile phone company turns to wind development

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FG Europe, a listed Greek producer of domestic electrical appliances and mobile phones, is branching into renewable energy through its subsidiary RF Energy, in which it holds a 40% stake. RF Energy plans to invest EUR 250 million in developing or buying around 430 MW in Greece and Southeast Europe by 2010. The company has already completed the purchase of Kallisti Energiaki, which owns a 15 MW wind power plant now up and running at Tsouka in the Peloponnese. Vestas supplied the five 3 MW turbines. RF Energy also selected Vestas to provide five of its 2 MW machines to a project at Kylindria in Macedonia, slated for completion in early 2009. Another project for 25.5 MW at Paparitsa, also in the Peloponnese, is going through the consenting process. RF Energy also owns two small hydroelectric plant totalling 3.6 MW.

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