Martifer SGPS said its Eviva Electricity LLC unit has signed an agreement to develop wind farms in southern Texas and plans to reach over 800 MW of installed capacity between 2009 and 2012.
In a filing with stock market regulator CMVM, Martifer said Eviva Electricity will hold a 90 pct stake in the developments, while Spinnaker Wind LLC will hold 10 pct.
The company said that, from the 800 MW installed capacity target, 280 MW are already at an advanced stage of development and are expected to enter production in 2009.
The Mota Engil SGPS affiliate added that the agreement leverages on its activity in the energy systems field and that the group ‘expects to rapidly expand its US operations, with further development agreements for renewable energy generation projects under consideration’.
Martifer’s Eviva SGPS has an 80 pct stake in Eviva Electricity LLC, while US partner Clean Power Ventures LLC holds 20 pct.
AFX News Limited
27 December 2007
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