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FERSA seeks more capital from the market
1 July 2003
Fersa Energías Renovables (FERSA), a publicly traded Catalonian wind project developer, is looking for more capital only three months after its debut on Barcelona's secondary stock exchange in March. At the first shareholders' meeting since its flotation, FERSA voted to extend its capital base by EUR 10 million -- to EUR 14 million. FERSA's board also confirmed its intention to buy more wind plant throughout Spain in the near future. The decision comes on the heels of its recent purchase from Unión Fenosa of 30% of the Altos de Voltoya wind complex, which connects a total of 55 MW to the grid in Castile and León. FERSA says it has stakes in 65 MW of developing wind projects nationwide. The company is owned mainly by Catalonia bank Fibanc (44.58%) and insurance company Catalana Occidente (25.58%).
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