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innogy acquires 23MW Italian wind farm

Published 14 March 2018

German energy company Innogy has signed an agreement with Italian developer Imprese e Sviluppo to acquire the 23MW Deliceto onshore wind farm.

The project based in the Apulia region has been in operation since January 2013 and consists of 10 Enercon wind turbines with an installed capacity of 2.3MW each.

The wind farm has been awarded with a 15 year incentive scheme based on the former Green Certificates System. All parties have agreed to maintain confidentiality regarding the purchase price.

Innogy renewable energies board member Hans Bünting said: "Italy is one of our European core markets for wind energy. We already operate three wind farms here and have a branch in Milan. As Italy continues to expand its renewable energies and our operations there generate solid and stable results, we intend to continue to grow in this market.

"The Deliceto wind farm is an important contribution to profitable growth. It fits in perfectly with our strategy of growing in addition to new markets in our core regions. So we do not put everything on one card: Being active in different markets allows us to offer a diversified portfolio in terms of weather and regulation."

Deliceto wind farm is located between the company’s wind farms Ururi and Anzi and will be operated by the existing organisation of innogy Italia, which has now an installed wind capacity of 90 MW. The new operating wind farm will benefit from the local established structures of asset management, business development, finance and general services.

Innogy Italia CEO Paolo Grossi said: "We are very pleased to add Wind Farm Deliceto to our Italian portfolio. This acquisition is a great opportunity for exploiting geographical and operational synergies with our fleet and will immediately add value to our business: Deliceto wind farm will benefit from the capabilities of our regional Operation & Maintenance team.

"We see favourable market conditions for growing further in the Italian market: Within the upcoming years, we plan to acquire also wind farms which are under development. We are open to cooperation models to successfully realise projects together. This approach has already proven very successful at innogy.

innogy has considerable experience in developing, designing, financing, constructing and operating renewables assets both independently and together with project partners and investors. In addition to looking for growth opportunities in the established European core markets innogy is looking for new value-accretive growth options in new markets (e.g. North America) – also for offshore wind and solar.

Source: Company Press Release