ENDESA Buys Two Combined Cycle Plants in Italy
19 September 2006 - 1:16AM
Business Wire
ENDESA Europa: -- ENDESA has acquired 50.1% of Centro Energia
Teverola and Centro Energia Ferrara, owners of the CCGT plants. --
The plants each have capacity of 150MW and annual output of around
2,000GWh. -- Through these acquisitions, ENDESA will have installed
capacity of c.7,000 MW in Italy, making it the third largest
operator in that country. -- These operations reinforce ENDESA's
presence in the European market, where it is leveraging profitable
growth opportunities in energy generation and trading. They are
also a step further in its European strategy. ENDESA Europa, wholly
owned by ENDESA (NYSE:ELE), has acquired 50.1% of Centro Energia
Teverola and Centro Energia Ferrara from the Italian companies
MERLONI INVEST, MPE and FINELDO. Centro Energetico Teverola has a
combined cycle plant located in the Emilia Romana region in the
north of Italy and Centro Energetico Ferrara has a plant in
Campania, in the south of the country. Foster Wheeler Italiana also
holds a 42% stake in the two companies. These companies have around
Euro 200 million of assets, of which ENDESA will secure 58.35%. The
plants both have installed capacity of 150MW, meaning that ENDESA
Europa will obtain 300MW of new combined cycle capacity in the
operation, putting its total combined cycle capacity in Italy at
2,700MW. These plants have an output of around 2,000GWh a year,
which will come on top of Endesa Italia's 23,362GWh production last
year and allow the group to cover its energy supply requirements in
this country. This operation reinforces ENDESA's presence in the
European market, where it is leveraging profitable growth
opportunities in energy production and trading. In addition, the
acquisition of these two plants is a huge step forward in ENDESA's
European strategy and falls within the framework of its Business
Plan, which envisages the installation of almost 1,100MW in Italy
through to 2009. The acquisition of this new capacity is also part
of ENDESA's strategic plan. ENDESA in Italy and Europe ENDESA's
controlling stake in Endesa Italia, the third largest generator in
that country with installed capacity of 6,590 MW, will be
reinforced by the 300 MW of capacity now acquired, giving the group
a significant position in one of the most attractive and
strategically important markets in Europe. Its generation assets
include several thermal plants: Tavazzano (1,840 MW), Monfalcone
(976 MW), Ostiglia (1,530 MW), Fiume Santo (1,040 MW) and Trapani
(170 MW); the Terni (530 MW), Cotronei (369 MW) and Catanzaro (115
MW) hydroelectric plants and the Florinas (20 MW) and Lardino (14
MW) wind farms. These plants achieved a net output of 23,362GWh in
2005, with the company posting sales of 30,911GWh. Also in Italy,
ENDESA Europa and ASM Brescia have initiated the Scandale plant
project for the construction of two 400MW CCGT plants producing
electricity and heat. The plant is scheduled to come on-stream in
2008. In other news, ENDESA Europa has already obtained the permits
to construct a re-gasification plant at Livorno, with authorised
re-gasification capacity of around 4 billion cubic metres a year.
It addition to Italy, ENDESA has operations in France, Poland and
Morocco, and its installed capacity in Europe stands at around
10,000 MW - making it the only Spanish utility with a significant
presence in the European market. We highlight ENDESA's activities
on the interconnections between Spain, France, Germany, Holland,
Belgium, Denmark, Italy and Slovenia. * This document may contain
certain forward-looking statements regarding anticipated financial
and operating results and statistics that are subject to risks and
uncertainties as well as to material risks, changes and other
factors which may be difficult to predict, including, without
limitation, those factors described in the Documento de Registro de
Acciones of Endesa filed within the Comision Nacional del Mercado
de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2005. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
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