Publisher: Fini GmbH
In Italy, Fini PLC Innsbruck acquires energy companies Energy-Crotone 1 and Energy-Crotone 2
Innsbruck - Fini PLC (founded in 1986) of Innsbruck has acquired 100% of the shares from the energy project developer in Bolzano/Bozen of the energy companies, Energy-Crotone 1 PLC and Energy-Crotone 2 PLC respectively and, for this reason, has reached an historic milestone. This will produce a total of 82.5 megawatt (MW) of wind energy and an additional 30 MW generated by solar panels covering areas of 525 hectares (33 wind power plants each producing 2.5 MW). The overall size of the investment of both project companies amounts to €250 million with net annual earnings of €50 million. Fini PLC in Innsbruck, together with the energy company in Bolzano/Bozen, is negotiating with German, Japanese, Chinese and American partners an additional investment of €2,250 million in order to realise more forthcoming energy projects for wind parks, photovoltaic and geothermal energy in Italy. As is well-known, Italy has the highest feed-in tariff in the world for at least 15 years.
As wind conditions in Italy only make investment profitable below Rome (average 7m per second at hub height) and each photovoltaic system only registers 2000 hours of solar radiation in southern Spain and southern Italy, the energy developer in Bolzano/Bozen has specialised in projects in these regions.
Modern geothermal energy has already been established in Italy for about 45 years. At present, there are more than 40 geothermal facilities. Here at a depth of 3,500m, the temperature for producing steam is already at 250° - 300° Celsius. This has been confirmed by recognised universities from the numerous drillings they have made. Our cash flow in this sector is 30%.
About the Eurotecno planning group in Bolzano/Bozen
The Eurotecno planning group in Bolzano/Bozen has been a project developer for ten years in the sector of renewable energy, such as wind power, photovoltaic and geothermal energy facilities in Italy.
The project developer in Bolzano/Bozen has already agreed by contract a total of 32,000 hectares of suitable sites in Italy. An independent company has been formed for each energy project in order to assign the appropriate project development rights. With our own engineers and technicians from Bolzano/Bozen, we develop projects from the planning stage with appropriate surface legal contracts (valid for a period of more than 30 years) pending all approvals and see our projects through to completion for potential investors.
Innsbruck, March 14, 2011
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