Project Development, Wind Power

Wind Movement in Spain

November 4, 2002 [SolarAccess.com] E2, the Danish industrial group, is taking a stake in the Spanish wind power branch. The company has concluded an agreement to buy wind farms with a generation capacity of 93 MW from US company Cinergy. Financial details of the transaction were not revealed, but each MW of wind power is valued at about €1 million (US$1 million). The operation has been carried out via Energy E2 Renovables Ibericas, the Danish group’s subsidiary for the Spanish market. E2 says it is also heading a series of projects to set up wind farms with 250 MW of power and intends to have a stake in the development of other 450 MW projects.