U.S. Energy Firm Makes First Move Into Spanish Windfarms

One of the top five global energy traders, TXU, is making its first step to gain a foothold in the Spanish generation market by buying a 40 percent stake in two Spanish windfarms

IBERIA, Spain (ES) 2002-02-01 [SolarAccess.com] Total project cost for construction of the two facilities at La Muela, near Zaragoza, is Euro 100 million. The two windfarms will total 99 MW of capacity and are under construction in Aragon, with the first generation expected at the end of this year. TXU’s investment in the La Muela renewable energy project “is consistent with TXU’s strategy of growth in Europe and solidifies our commitment to the Spanish market,” says the company’s Luis Blanco. Renewable energy infrastructure and development played a key role in the generation mix in Spain and TXU’s involvement as the largest single shareholder in the windfarm supported the company’s commitment to renewable energy development in Iberia. TXU is one of five investors in the project, which has started construction. The others are German investment fund for renewable energy projects BVT Energie und Umwelttechnik AG (30 percent), German renewable energy project developer Umweltkontor Renewable Energy AG (26 percent), La Diputaciôn General de Aragôn (1 percent), and German developer for this project, Project Development Fund (3 percent). There is additional support from financial institutions.