Newfoundland wind project
Erga Part of Consortium That Wins Bid for First Wind Development Project in Newfoundland
ROME--(BUSINESS WIRE)--May 3, 2001--Erga S.p.A, the renewable energy subsidiary established in 1999 by Enel S.p.A. (MIB:ENEL, NYSE:EN), today announced that a consortium, which includes Erga's North American subsidiary CHI Energy, Inc., has won the right to study and develop up to an estimated 25 megawatts (MW) of wind generation in the province of Labrador and Newfoundland, Canada. Newfoundland and Labrador Hydro (HYDRO), the fourth largest utility in Canada in terms of installed generating capacity, awarded its Wind Energy Demonstration Project to the NeWind Group consortium, which includes CHI, fga Consulting Engineers Limited, and Quadratec Inc. The NeWind consortium was selected for the project from a group of 10 bidders.
NeWind will carry out the Wind Energy Demonstration Project in two stages. In Stage 1, NeWind will fund and perform a feasibility study, consisting of a site assessment and system optimization, to determine if wind generation is feasible on the island of Newfoundland. In Stage 2, if the results of the study are favorable and a power purchase agreement is negotiated between HYDRO and NeWind, NeWind will construct and operate a wind generation plant in the range of five to 25 MW. The project would be the first wind generation facility on the island of Newfoundland.
Paolo Pietrogrande, chief executive officer of Erga, said, ``We are extremely pleased to be part of the consortium that was chosen for this important project. Newfoundland has excellent wind resources, and our technological expertise helps make wind a cost competitive alternative to traditional fuel sources. As an environmentally responsible approach to meeting the growing demand for energy in Newfoundland, we expect this project to lead the way toward establishing wind power as a key source of electricity on the island.
``Additionally, this new opportunity demonstrates the determination of Erga to promote renewable energy on a global scale. It is but one example of CHI's initiative and leadership in promoting wind power, and we believe that it underscores the exciting opportunities that CHI has brought to Erga,'' concluded Mr. Pietrogrande.
About Erga
Erga is the world's largest power producer specialized in the renewable energy market with over 2,300 MW of capacity currently in operation throughout Italy, the United States and Canada. The company also has projects under development for about 800 MW of additional hydro, geothermal and wind power plants. Erga's first geothermal electric application dates back to 1912. Since then, the company has been a leading developer and operator of geothermal, hydro, wind and photovoltaics facilities. Erga operates in North and Latin America through its wholly owned subsidiary, CHI Energy Inc. of Stamford, CT. CHI was acquired by Erga in December 2000. CHI's diversified portfolio of renewable energy projects includes hydropower, biomass, landfill gas, wind and other clean energy generation technologies. For more information about Erga, please visit its homepage www.enel.it/erga.
About Enel
Enel (MIB:ENEL, NYSE:EN) is the principal electricity company in Italy and the largest traded electric utility worldwide with the leading position in the generation, transmission, distribution and supply of electricity. The company, with 2000 revenues in excess of L48,000 billion (approximately $24 billion) and 74,000 employees, serves more than 29 million customers. As of December 31, 2000, Enel has sold 222.9 TWh of electricity, with net installed capacity of about 56,000 MW. Enel's most significant business outside its core electricity operations is its 56.7 percent interest in WIND, a joint venture in the telecommunications industry with France Telecom, and the recent acquisition of Infostrada from Vodafone. The two companies will serve almost 12 million customers. |
