EDF Energies Nouvelles has signed an agreement with Greentech Energy Systems A/S to acquire a 50% stake in the 98.9 MW Monte Grighine wind project (Sardinia) and establish a long-term partnership. The total purchase consideration amounts to €63m.
The Monte Grighine wind farm will be the Italy's largest wind farm, totalizing 43 Nordex wind turbines. This wind farm is under construction and the commissioning is expected to take place by the end of the year. Under the agreement signed, Greentech shall bear the cost to complete the project. A portion of the purchase consideration shall be directly allocated to the Project to provide the estimated necessary funds to meet the remaining construction costs.
The partnership agreement also gives EDF EN an option to take a 50% equity stake in every project from Greentech's pipeline in Italy and Poland, which represents approximately 850 MW. It also applies to all other projects that will be developed by Greentech and reach the "ready to build" stage by year-end 2012.