Airtricity today announced that it has signed a joint venture agreement with Italian wind farm development company Entropya. Under the terms of the agreement, Airtricity owns 60% of the joint venture partnership and Entropya owns 40%.
Currently the joint venture partnership has a development pipeline in excess of 2000MW at various stages in the authorization process.
The joint venture company will be based in Lecce in Puglia, Southern Italy and will develop a portfolio of wind farm sites across Puglia, Basilicata, Calabria and Sicily. Initially it is expected that the joint venture partnership will have seven direct employees however as development activity increases, the number of employees is also expected to increase.
The objective of the joint venture is to develop the potential for wind generated electricity in Southern Italy and provide a significant economic boost to the area.
Dermot O’Kane, General Manager, New Markets, Airtricity said:
“This joint venture with Entropya marks the start of Airtricity’s development in Italy, one of the most attractive renewable energy markets in Europe. We are delighted to have signed this agreement with Entropya and to be working with people of the calibre of Gabriella Chieffo and Andrea Antonelli Drago, Entropya’s joint owners. Airtricity have a strong track record in wind farm development and we are very excited about developing and growing the portfolio of 2000MW wind farms in Italy.”
Gabriella Chieffo, joint owner of Entropya said:
“We are proud to have signed this agreement with a partner as important as Airtricity, with whom we share the objective of improving life on our planet. This is a significant step in the development of Entropya, which will allow us to strengthen our experience and to reach the goal of real environmental sustainability, by overcoming the difficulties of the current Italian legislation. Together with Airtricity, we will work for a new energy concept making “alternative” sources of energy into “principal” sources of energy for the future.
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