ENDESA TO BUILD NEW WIND FARM IN FRANCE.
SNET, a subsidiary of ENDESA (NYSE:ELE), has begun construction of the 10 MW capacity Ambon wind farm, situated in the gulf of Morbihan in the region of Brittany.
This complex will entail investment of Euro 13.4 million and will consist of 6 wind turbines, each with capacity of 1.67 MW. The site has a wind power potential of approximately 2,217 equivalent hours per annum at full throttle.
Revenues from the wind farm are guaranteed by virtue of the French decree dated 8 June, 2001 which stipulates that EDF must purchase all energy produced by wind farms.
From an environmental standpoint, the wind farm's annual output will result in annual savings of approximately 22,000 tons of CO2 emissions. This additional capacity falls under the umbrella of ENDESA's Strategic Plan and is provided for in SNET's business plan, the objectives of which include bringing installed wind capacity to 200 MW by 2008. Snet continues to search for new opportunities, guided by its strategic imperative of minimizing risk during the development stage.
These initiatives reaffirm ENDESA's commitment to the environment and sustainable development, where it is in line with the French government's policy target of generating 21% of energy consumption from renewable sources, as provided for in the related European Directive. In addition to the Ambon wind farm, ENDESA currently has another 10 MW wind farm under construction in France, situated in Picardy in the region of l'Aisne. It is expected to be operational in February 2007 and will entail an estimated investment of Euro 10 million.
For more information, call 212/750-7200 or visit http://www.endesa.es.
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|Date:||Jan 1, 2007|
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