voltwerk enters the Italian market

Hamburg/Milan, October 25, 2006: At a press conference in Milan, voltwerk AG announced the formation of a joint venture in Italy. voltwerk is a leading German company in structured development for the financing of projects in the renewable energy sector. They have joined forces with Fortore Energia S.p.A., an experienced Italian project developer, in founding voltwerk Italia S.R.L. Fortore Energia offers five years of experience in the Italian wind energy market and has already completed several successful projects. As a joint venture, both partners will combine their experience and skills in the development, construction, operation, and financing of large projects for renewable energy solutions. “Entering the Italian market is a continuation of our international strategic growth. With this strategy, we aim to develop into new markets which offer the appropriate climatic conditions with the necessary economic energy framework”, explains Nikolaus Krane, CEO voltwerk AG. In the meantime, the company is expecting similar success in Italy to that already achieved in Spain where business has been overwhelmingly positive.
Attractive supply tariffs mean that the local wind energy market is very promising. In the past year, Italy has installed over 450 megawatts of wind energy, making it one of Europe's top 5 fastest-growing markets in the renewable energy sector. Intensive winds, particularly in the high-altitude of southern Italy, promise high energy yields. In addition, solar energy is expected to gain importance and contribute to an increasing demand of Italy's energy mix.
The new company's first project is already underway in the Puglia region. In Monticelli, a total of six REpower MM82 power stations are being installed, each with an output of two megawatts. Each year, the 12 megawatt wind park will generate an energy yield of approximately 21 million kilowatt hours, supplying enough electricity for around 6,500 homes.