Wind Farm Developments in Por

RNS Number : 4824X

Scottish & Southern Energy PLC

25 June 2008

 



SCOTTISH AND SOUTHERN ENERGY PLC

WIND FARM DEVELOPMENTS IN PORTUGAL

Airtricity, the renewable energy development division of Scottish and Southern Energy plc ('SSE'), has entered into joint venture partnerships to further its plans for wind farm development in Portugal.

The first agreement is with Riviera, one of the largest real estate and property development companies in Portugal, to jointly develop a number of wind farms totalling approximately 250MW. Under the terms of this agreement Airtricity will hold a 60% share in the joint venture company and Riviera will hold 40%. As these projects are at an early stage of development, the earliest likely date for construction of the first wind farm is around the end of next year.

Airtricity has also signed an agreement with Portugese and Spanish wind farm developer Hispano Lusa S.L. whereby a joint venture company called Airtricity Marao, will be established. The company will be 90% owned by Airtricity and 10% owned by Hispano Lusa S.L. Airtricity Marao will be responsible for development of eight potential wind farm sites with a potential capacity of 150MW in the Baiao, Amarante and Mondim de Basto areas of northern Portugal.  

In March 2008, SSE announced plans to invest, largely on an equity basis, around £500m in renewable energy in new markets, including Portugal. In April 2008, Airtricity entered into a joint venture with Gothenburg-based Gothia Vind which is aiming to develop around 200MW of wind farm capacity in western Sweden.

Paul Dowling, Chief Executive of Airtricity, said:

'In April 2007 Airtricity announced its first Joint Venture Partnership to develop between 400-600MW wind farms with Enerbaca-Energias Renovaveis in the Braganca and Vinhais municipalities within the Tras-Os-Montes region of Portugal. I am delighted to have concluded these additional partnerships and to be working with developers of the calibre of Hispano Lusa S.L. and Riviera. Airtricity's development pipeline in Portugal is now over 1,000MW. We are fully committed to the construction of this wind farm pipeline and to making a substantial contribution to Portugal achieving its target of 45% of energy consumption from renewable sources by 2010.'

Enquiries to:

Sally Fairbairn - Investor Relations Manager (SSE) - 0845 0760 530

Sharron Miller-McKenzie - Press Office Manager (SSE) - 0845 0760 530

 

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