Renewable energies: Atel steps up engagement in Italy

Atel is expanding business in Italy and has acquired a 30 percent stake in the Italian activities of energy company Moncada Energy Group S.r.l. The new joint venture will operate under the name M & A Rinnovabili S.r.l., and cover the wind, solar and biomass power plants operated and planned by Moncada in Italy. Through its partnership with Atel, Moncada has gained a strong European partner for the distribution of electricity generated from renewable energies. The parties have agreed not to disclose the purchase price.

Participation in the Italian activities of Moncada Energy

On 4 August Atel acquired a 30 percent stake in the Italian activities of Moncada Energy Group S.r.l. The joint venture will operate under the name M & A Rinnovabili S.r.l, developing, implementing and operating on-shore and off-shore wind farms, solar power plants and biomass plants in Italy. M & A Rinnovabili already has an installed wind power capacity of 105 MW, and additional projects with a combined capacity of more than 1000 MW are under development. 105 MW corresponds roughly to nine times the output of all wind farms operating in Switzerland.

By acquiring this 30 percent interest, Atel has expanded its presence on the Italian market and stepped up its engagement in renewable energies. Firstly, Atel's strategy aims to increase the use of renewable energies; and secondly, Atel has set itself the objective of meeting half of the required quotient of "green certificates" in Italy with electricity generated by its own power plants and by acquiring shares in other power plants. With this investment in renewable energies Atel has joined forces with a strong partner, since Moncada has long been an industry leader.

Atel already owns and holds shares in a number of power plants in Italy, generating electricity from conventional sources as well as renewable energies. The combined installed capacity is 1,700 MW spread among 17 plants. In Sicily two wind farms, in each of which Atel holds a 49 percent stake, have been in operation since 2008, generating 220 GWh of electrical power per year. Atel is also involved in hydro power activities in northern Italy.

Atel Holding Ltd Corporate Communications