EURACTIV PR

An easy way of publishing your relevant EU press releases.

Enel Green Power and Finipiemonte partecipazioni sign agreement for development of photovoltaic and other renewable energy resources in Piedmont

Date

09 Feb 2010

Sections

Energy
Sustainable Dev.

A new joint venture between the two companies will begin immediate
development of a photovoltaic system with a capacity of more than 3 MW
at Strambino, with other renewable energy plants to follow in the near
future.

The agreement implements the Memorandum of Understanding of July
2008 between Enel and the Region of Piedmont for joint initiatives aimed
at developing hydroelectric, wind and photovoltaic power generation.

Turin, January 27th, 2010 -An agreement to establish a joint venture for the
development of renewable energy resources in Piedmont was signed today by the
Chairman of Enel Green Power, Francesco Starace, and the Chairman of Finpiemonte
Partecipazioni, Fabio Massimo Cacciatori, in the presence of the President of the Region
of Piedmont, Mercedes Bresso, and the regional councillor for energy, research and
industry, Andrea Bairati.

Today's agreement - which implements the Memorandum signed in July 2008 between
the CEO and General Manager of Enel, Fulvio Conti, and President Bresso for joint
initiatives for the development of renewable resources – provides for the construction
and operation of a photovoltaic system with a capacity of more than 3 MW at Strambino,
near Turin, and, in the near future, photovoltaic, hydro and wind plants on property
owned by companies controlled by Finpiemonte Partecipazioni.

The new company will be 60%-owned by Enel Green Power – the Enel Group company
devoted to the development and management of power generation from renewable
resources in Italy and worldwide – and 40%-owned by Finpiemonte Partecipazioni, a
company controlled by the Region of Piedmont active in renewable energy and reducing
atmospheric emissions, which has more than 600 thousand square meters available for
further joint photovoltaic initiatives.

The Strambino plant will start operations by the end of 2010 and will use polycrystalline
silicon photovoltaic panels. With an installed capacity of more than 3 MW, it will be able
to generate about 4 million kilowatt hours annually, enough to meet the needs of nearly
1,500 households and avoid the emission of more than 3 thousand tonnes of CO2.

Enel Green Power is the Enel Group company devoted to the development and
management of power generation from renewable resources at the international level,
with a presence in Europe and the Americas. It is the European leader in its industry
thanks to 17.2 billion kilowatt-hours of electricity generated from water, the sun, wind
and the heat of the earth, enough to meet the consumption needs of some 6.5 million
households each year and avoid 13 million tonnes of CO2 emissions. The company's
installed capacity totals about 4,700 MW, making it the Italian leader in this sector, with
an integrated international business in the generation of power from renewable
resources. It has more than 500 plants in operation around the world, with a generation
mix that includes wind, solar, hydro, geothermal and biomass.

Finpiemonte Partecipazioni is a public/private corporation, majority owned by the
regional government. It operates in the areas of logistics, renewable energy and
developing the Piedmont region. In particular, the activity of Finpiemonte Partecipazioni
in the renewable energy sector is focused on reducing atmospheric emissions through the
development of photovoltaics, co-generation with biogas and district heating.

EURACTIV Services