RWE Innogy acquires majority stake in Spanish wind farm operator, RWE
Release Date: 2009-05-13
* Extension of the operating wind power portfolio in Spain to 400 MW
RWE Innogy, through its subsidiary company Agrupació Energías Renovables S.A.U. (AERSA), has increased its share of the Spanish wind farm operator Danta de Energías S.A. from 44% to 93.7%. This extends RWE Innogy's wind power portfolio in Spain by about 70 megawatts on a quotal basis to an installed capacity of around 400 megawatts.
Danta de Energías operates three onshore wind farms with an installed capacity of some 130 megawatts near the city of Soria in the Spanish province of Castilla Leon. The company is also developing four other wind farms in the same region with a total installed capacity of about 40 MW, which are planned for 2011. RWE Innogy is acquiring the shares from the operator of wind and solar power plants Eolia Renovables de Inversiones S.C.R., S.A., based in Madrid.
Kevin McCullough, COO of RWE Innogy: „The Spanish wind market is among the most attractive in Europe, which makes it particularly important for our growth strategy. The wind farms in which we have now acquired a majority stake are an excellent fit for our existing portfolio.“
The wind farms operated by Danta de Energías comprise a total of 104 wind turbines of the 800 kilowatt and 1.5 megawatt class. The systems have supplied the equivalent of some 77,000 residential households with electricity since they came on stream in 2004.
Last year, RWE Innogy also acquired six onshore wind farms with a total installed capacity of 150 megawatts from the Spanish wind farm operator Urvasco Energía S.A and has a clear target to continue to grow its presence in the Spanish market which offers good conditions for developing renewable energies, in particular wind power.
Excellent wind conditions and a clear commitment by the Spanish government to supporting renewable energies has lead to annual growth rates of up to 30 percent in the past. As far as payments for the generated electricity are concerned, a fixed or a variable tariff can be chosen in Spain for power fed into the grid. The variable tariff rate, according to which payments are made for the plants acquired by RWE Innogy, consists of the wholesale price plus a premium for renewable energies.
| Type: | NORMAL |
| Company: | RWE |
| Country: | Germany |
| Url: | http://www.rwe.com/web/cms/en/113648/rwe/press-news/press-release/?pmid=4003398 |