Scottish & Southern Energy’s renewable division, Airtricity, has entered into two joint ventures to further its wind farm development plans in Portugal, totaling 400 mega watts of potential capacity.
The first agreement, which could see construction beginning by the end of year, is with Riviera, a Portuguese real estate and property development company, under which the companies will jointly develop a number of wind farms totaling approximately 250 mega watts (MW).
Airtricity will hold a 60 percent share in the joint venture and Riviera 40 percent.
Airtricity has also signed an agreement with Portuguese and Spanish wind farm developer Hispano Lusa S.L. to develop eight potential wind farm sites with a potential capacity of 150 MW in the Baiao, Amarante and Mondim de Basto areas of northern Portugal.
This joint venture will be 90 percent owned by Airtricity and 10 percent owned by Hispano Lusa S.L.
Thomson Financial News
25 June 2008
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