Montenegro finalizes Wind Power investment by Fersa

The construction of 46 megawatts of wind energy plant at the location Mozura in the municipalities of Bar and Ulcinj, will receive an investment of over 64 million euros annonced the Ministry of Economy, as the Evaluation Committee agreed the text of the contract with the consortium Fersa – Celebic.

Fersa is present in nine countries in three continents andhas an attributable installed capacity of 138 MW diversified in four countries, and a portfolio of wind farms either in construction or authorised of 954 MW which will ensure the future growth of the Company.

Fersa has formally agreed "Project Finance" type financing between EN Renewable Energy Pvt. Ltd, Fersa Energías Renovables’s totally owned subsidiary and the government body Indian Renewable Energy Development Agency (IREDA), for 1.86 billion rupees (30 million euros) to finance the construction and commissioning of the Hanumanhatti wind farm in the state of Karnataka (India).

The wind farm will be fitted with 63 Enercon E-53 wind turbines, each with a rated power of 800 kW, for a total output of 50.4 MW. The construction of the Hanumanhatti wind farm will be a turnkey project in conjunction with Enercon India.

It is estimated that the farm will start generating electricity during the second half of 2010. Production is forecast at 115 GWh per year, which will avoid the emission of more than 106,000 tonnes of CO2 per year. The investment for the commissioning of this farm is expected to surpass 2.6 billion rupees (42 million euros).

Once the wind farm in Hanumanhatti is operational, Fersa will increase its presence in India from the current 31.2 MW to 81.6 MW with the Gadag farm in the state of Karnataka. Fersa is also planning the construction of a 50.4 MW farm in Kita in the state of Rajasthan towards the end of 2010 and a 50.4 MW farm in Ramdurga, planned for 2011.

With the financing of the Hanumanhatti farm, Fersa is on track in its strategic plan for 2010 which includes the construction of more than 240 MW between Spain, Poland, Estonia and India.

Wind energy is the main activity of Fersa , accounting for 98% of the total installed capacity and almost our entire portfolio of projects. The remaining 2% of the total installed capacity comes from solar and biogas energy plants and we are currently researching and developing biomass projects.