The ''Eolicas de Portugal'', Consortium, in Which ENDESA Owns a 30% Stake, Has Been Awarded 1,200 MW of Capacity in the Wind Ene
November 02 2006 - 10:15AM
Business Wire
The E�licas de Portugal consortium, in which ENDESA (NYSE:ELE) owns
a 30% stake, has won the concession tendered by the Portuguese
government for the installation of wind farms with a total capacity
of 1,200 MW. The concession agreement was signed today in Viana do
Castelo in a ceremony presided over by the Portuguese Minister for
the Economy and Innovation. The consortium is 30%-owned by ENDESA,
40%-owned by EDP, 20%-owned by GENERG (a Portuguese wind farm
developer) and 10%-owned by SONAE (Portugal�s largest industrial
conglomerate and ENDESA�s partner in the development of around 60
MW of wind farms in Portugal) and additionally comprises ENERCON,
the world technological leader in the development and production of
wind turbines with factories in five countries. The consortium was
awarded not only the 800 MW that was publicly tendered but also the
two 200 MW bonus concessions provided for in the tender. The first
bonus concession was awarded because the consortium�s tender
proposal exceeded the minimum quality requirements and the second,
as a prize of outstanding merit. E�licas de Portugal�s proposal was
the best rated by the jury, outranking the other consortium that
had also reached the final stage. The E�licas de Portugal project
entails investment of over Euro 1.5 billion between 2006 and 2011
and will generate over 1,800 new jobs. The initiative comprises the
installation of 48 wind farms with capacity of between 20 and 25 MW
at a broad range of sites throughout Portugal. The wind park
developments are mostly located in the regions of Minho, Upper
Beira, Lower Beira, Extremadura and the Algarve. The project
additionally envisages the development of an industrial estate in
Viana do Castelo with a planned total surface area of 135,000m2.
The facility will consist of the production facilities required to
guarantee the integral production of a new ENERCON wind turbine
model, the E-82, for the consortium, with a production capacity of
180 wind turbines/year and 600 poles/year. Thanks to the additional
capacity accruing to ENDESA by virtue of winning this tender, the
Company will have almost 700 MW of wind capacity in Portugal making
it the country�s second largest wind energy producer and the
largest non-Portuguese electric utility in the sector. At present,
ENDESA�s participates in the Portuguese renewable energy and
cogeneration sectors together with Sociedade T�rmica Portuguesa, in
a 50/50 joint venture which has 56 MW of cogeneration capacity. In
addition, ENDESA acquired 100% of FINERGE in 2005, which had an
installed capacity of 107 MW at the end of 2005 and plans to boost
its output to 320 MW by 2007. ENDESA�s also participates in the
Portuguese electricity system through its stake in Tejo Energ�a and
the sale of electricity to end customers on the deregulated market.
ENDESA holds a 38.9% stake in Tejo Energ�a, the company that owns
the 600 MW coal-fired Pego plant, one of the country�s largest
facilities. This plant has long-term contracts to sell its energy
to the Portuguese grid and produced 4,702 GWh of power in 2005, up
approximately 6% on 2004. In 2005 ENDESA cemented its position in
the Portuguese deregulated market with total sales of 2,223 GWh, an
increase of 23.6% on 2004 to give it a 33% share of the deregulated
market and a customer base of over 2,700. Since May 2002 ENDESA has
been active in this market through Sodesa, created through a 50/50
joint venture with Portuguese industrial conglomerate Sonae. Sodesa
is currently the second-ranked supplier to the Portuguese
deregulated market. * This document may contain certain
forward-looking statements regarding anticipated financial and
operating results and statistics that are subject to risks and
uncertainties as well as to material risks, changes and other
factors which may be difficult to predict, including, without
limitation, those factors described in the Documento de Registro de
Acciones of Endesa filed within the Comisi�n Nacional del Mercado
de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2005. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995. The Eolicas de Portugal consortium, in which ENDESA
(NYSE:ELE) owns a 30% stake, has won the concession tendered by the
Portuguese government for the installation of wind farms with a
total capacity of 1,200 MW. The concession agreement was signed
today in Viana do Castelo in a ceremony presided over by the
Portuguese Minister for the Economy and Innovation. The consortium
is 30%-owned by ENDESA, 40%-owned by EDP, 20%-owned by GENERG (a
Portuguese wind farm developer) and 10%-owned by SONAE (Portugal's
largest industrial conglomerate and ENDESA's partner in the
development of around 60 MW of wind farms in Portugal) and
additionally comprises ENERCON, the world technological leader in
the development and production of wind turbines with factories in
five countries. The consortium was awarded not only the 800 MW that
was publicly tendered but also the two 200 MW bonus concessions
provided for in the tender. The first bonus concession was awarded
because the consortium's tender proposal exceeded the minimum
quality requirements and the second, as a prize of outstanding
merit. Eolicas de Portugal's proposal was the best rated by the
jury, outranking the other consortium that had also reached the
final stage. The Eolicas de Portugal project entails investment of
over Euro 1.5 billion between 2006 and 2011 and will generate over
1,800 new jobs. The initiative comprises the installation of 48
wind farms with capacity of between 20 and 25 MW at a broad range
of sites throughout Portugal. The wind park developments are mostly
located in the regions of Minho, Upper Beira, Lower Beira,
Extremadura and the Algarve. The project additionally envisages the
development of an industrial estate in Viana do Castelo with a
planned total surface area of 135,000m2. The facility will consist
of the production facilities required to guarantee the integral
production of a new ENERCON wind turbine model, the E-82, for the
consortium, with a production capacity of 180 wind turbines/year
and 600 poles/year. Thanks to the additional capacity accruing to
ENDESA by virtue of winning this tender, the Company will have
almost 700 MW of wind capacity in Portugal making it the country's
second largest wind energy producer and the largest non-Portuguese
electric utility in the sector. At present, ENDESA's participates
in the Portuguese renewable energy and cogeneration sectors
together with Sociedade Termica Portuguesa, in a 50/50 joint
venture which has 56 MW of cogeneration capacity. In addition,
ENDESA acquired 100% of FINERGE in 2005, which had an installed
capacity of 107 MW at the end of 2005 and plans to boost its output
to 320 MW by 2007. ENDESA's also participates in the Portuguese
electricity system through its stake in Tejo Energia and the sale
of electricity to end customers on the deregulated market. ENDESA
holds a 38.9% stake in Tejo Energia, the company that owns the 600
MW coal-fired Pego plant, one of the country's largest facilities.
This plant has long-term contracts to sell its energy to the
Portuguese grid and produced 4,702 GWh of power in 2005, up
approximately 6% on 2004. In 2005 ENDESA cemented its position in
the Portuguese deregulated market with total sales of 2,223 GWh, an
increase of 23.6% on 2004 to give it a 33% share of the deregulated
market and a customer base of over 2,700. Since May 2002 ENDESA has
been active in this market through Sodesa, created through a 50/50
joint venture with Portuguese industrial conglomerate Sonae. Sodesa
is currently the second-ranked supplier to the Portuguese
deregulated market. * This document may contain certain
forward-looking statements regarding anticipated financial and
operating results and statistics that are subject to risks and
uncertainties as well as to material risks, changes and other
factors which may be difficult to predict, including, without
limitation, those factors described in the Documento de Registro de
Acciones of Endesa filed within the Comision Nacional del Mercado
de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2005. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
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