Nordex Energy Ibérica, a wholly owned subsidiary of Nordex AG, has landed a new order in Portugal by signing a contract worth around €11.3 million (US$12.1 million) for the turn-key assembly of the Vergao wind farm for Portuguese developer GENERG Ventos de Proença-a-Nova.Hamburg, Germany – April 3, 2003 [SolarAccess.com] The project entails ten, N62/1,300 kW turbines complete with all infrastructure support. Work at the Portuguese site should begin as early as April 2003. The wind farm is located at an altitude of 600 meters in the Vergao mountains in the Catelo Branco region. With average wind speeds of 7.3 m/s and a capacity of 13 MW, the farm will have an annual yield of around 30,000 MWh, sufficient to cover the electricity requirements of 8,000 households. Since January 2002, the Portuguese “clean-slate” law provides for a sliding-scale feed-in charge of 8.2 euro-cents (US8.8 cents )per kWh for the first 2,000 full-load hours. There are only two other countries in Europe stipulating a higher price. The act seeks to offer incentives for assembling wind farms in locations with less favorable wind conditions but close to the consumer. The advantage of this solution is that these regions in particular frequently possess well-developed electricity grids. At the same time, it is possible to avoid long and expensive transmission routes. A total capacity of up to 7,000 MW is to be funded in this way. In taking this course, the government is pursuing the EU goal of covering 39 percent of its electricity requirements from regenerative sources by 2010. At the same time, the University of Porto forecasts annual growth of five percent in demand for energy.