Spain’s major utility Endesa revealed plans to build 18 wind farms in Valencia with nearly 500 MW of installed capacity for an investment of Euro 450 million (US$559.7 million). These farms form part of the renewable energy program approved by the Valencia’s regional government in 2003.New York, New York – July 20, 2004 [SolarAccess.com] Endesa has won the tender for projects in three of the fifteen areas set aside for the construction of wind farms. If all possible permitted projects are completed, the region of Valencia will have 2,300 MW of new wind capacity, generating 5,500 GWh of power, according to Endesa. Currently, the region only has 21 MW of wind capacity. To construct these wind farms, Endesa has signed a Euro 300 million (US$373 million) framework contract with Gamesa for the supply of the wind turbines and a Industrial Plan to define the implementation of the various wind energy projects. The operation will cost Euro 300 million (US$373 million) and forms part of the agreement made in 2002 through which Gamesa acquired Endesa’s subsidiary MADE (wind turbine manufacturing). The agreement also plans for the wind turbine supply through MADE (up to 1,000 MW). Proyectos Eolicos Valencianos (55 percent owned by Endesa, 25 percent by Sedesa and 20 percent by Bancaja) will over see the construction and development of the wind farms. The agreement was signed by Carlos Cabrera Junquera, general manager of Endesa Cogeneracion y Renovables (on behalf of Proyectos Eolicos Valencianos); Vicente Cotino Escriva, CEO of Sedesa; Arturo Alario Misfud, on behalf of Bancaja; Juan Ignacio Lopez Gandasegui, CEO of Gamesa; and Carlos Perea Elias, general manager of Made Tecnologias Renovables Endesa’s long-term strategic plan has earmarked Euro 1.3 billion (US$1.6 billion) for investment up until 2008 to bring its installed capacity in renewable energies up to 3,400 MW in the Spanish market, increasing the company’s renewable energy capacity to 15 percent. In 2004-2008, some 2,089 MW of renewable energy capacity is to be built, in addition to the 29 MW of related technologies, 85 MW of mini hydro plants, 90 MW of solid waste-fuelled plants and 30 MW of co-generation. The company currently has installed capacity of 2,068 MW in renewable and co-generation plants in Spain, representing 5 percent of its total generation assets. In 2003, the company brought eight new wind farms on stream (with a total capacity of 184 MW).