Spanish firm Fersa floated on secondary stock exchange

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Spanish wind and biomass developer, Fibanc Energías Renovables (Fersa), has begun trading on Barcelona's secondary stock exchange. The company says it will enter the mainstream financial market in 2005 if it reaches its target capital base of EUR 60 million. Fersa is controlled by banks Fibanc, Catalana Occidente and Sa Nostra. Minority shares are held by private investors; Jose María Roger, once the boss of NEG Micon's Spanish division, is reported to be one of them. Fersa recently bought 45% of the 40 MW Hinojal wind project in Tarifa, to come online in 2004. It also owns 73% of the nearby Pedregosa wind plant and has majority shares in a wind power pipeline totalling 65 MW.

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