Joint Venture in Italy

RNS Number : 2422Y

Scottish & Southern Energy PLC

03 July 2008

 



SCOTTISH AND SOUTHERN ENERGY PLC 

JOINT VENTURE IN ITALY

Airtricity, the renewable energy development division of Scottish and Southern Energy plc ('SSE'), has entered into a joint venture with Italian wind farm development company Entropya. Under the terms of the agreement, Airtricity will own 60% of the joint venture partnership and Entropya will own 40%. 

The joint venture company will be based in Lecce in Puglia, southern Italy, and will develop a portfolio of wind farm sites across Puglia, Basilicata, Calabria and Sicily. It has a development pipeline in excess of 2,000MW at various stages in the authorisation process. In March 2008, SSE said it expected to invest, on an equity basis, a total of around £500m in renewable energy in new markets over the next five years. The joint venture with Entropya follows the joint venture Airtricity signed with Swedish wind farm developer Gothia Vind in April 2008. 

Paul Dowling, Chief Executive of Airtricity, said: 

'This deal with Entropya marks the start of our development in Italy, one of the most attractive renewable energy markets in Europe. Airtricity has a strong track record in wind farm development and we are very enthusiastic about developing and growing the portfolio of 2000MW wind farms in Italy.'

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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