Wind Energy Project to Bring Investment of €220 Million to Portugal, Boosting Country's Renewable Energy Cluster

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Jul 24, 2014, 01:27 ET

LISBON, Portugal and ESSEN, Germany, July 24, 2014 /PRNewswire/ --

Ventinveste, a consortium of some of Portugal's top energy and engineering companies, and Ferrostaal GmbH, a project developer with investments worldwide, will build four wind farms in the country, in a €220 million investment that will strengthen the country's renewable energy cluster.

Project Ancora, as the venture is known, will comprise a combined 171,6 MW that will have a starting tariff of €68/MWh, a challenge to the promoters, as these are among the lowest wind tariffs in the country. The average wind tariff in Portugal is €93/MWh, according to ERSE, the country's energy markets regulator.

The farms will entail a total 84 wind energy turbines, which will be produced in Oliveira de Frades and in Vagos, in Northern Portugal. Construction will begin immediately after the financial closing of the agreement, which is expected to take place in the 4th quarter of the year and the connection to the grid is planned to occur in a sequence spanning from mid-2015 to the middle of 2016.

Ventinveste - whose members include Galp Energia, Martifer, Efacec and Senvion (formerly Repower) - and Ferrostaal who are advised by renewable energy asset management experts Ferrostaal Capital, will each hold a 50% share in the project.

About Ferrostaal GmbH

Ferrostaal is a technology-independent, multi-vendor and supplier-independent provider of industrial services with operations worldwide. As a project developer, the company is active in the areas of petrochemicals, wind power, lighting solutions, air technology, oil & gas as well as select industries. As a service and sales partner to international manufacturers, the company deals in machinery and equipment for recycling, packaging, rail transport, laboratory technology and printing, as well as with pipes and piping accessories. In the automotive field, Ferrostaal develops tailor-made processes and operates entire module assemblies for international automobile manufacturers and suppliers. Some 3,600 employees combine decades of industrial expertise with financing competence on behalf of the customers. Ferrostaal has own companies in around 40 countries.

For further information: http://www.ferrostaal.com

About Ferrostaal Capital GmbH

Ferrostaal Capital is an infrastructure and energy asset manager, offering investors long term assets in the infrastructure sector delivering sustainable and stable cash flows.

For further information: Ms Olivia Bernard or Mr Stefan Viering, [email protected] or http://www.ferrostaal-capital.com

About Galp Energia

Galp Energia is Portugal's largest integrated energy company. Its activities range from oil exploration and production to refining, and distribution of oil products, natural gas and power. It is a partner in some of the world's largest E&P projects, including Brazil's giant pre-salt oil fields and the natural-gas reserves off the coast of northern Mozambique.

For further information: Mr Pedro Marques Pereira or Ms Rita Esteves de Carvalho, [email protected] or http://www.galpenergia.com

About Martifer

Martifer is a multinational industrial group with around 3,000 employees and an activity focused on the metallic construction and solar energy industries. Martifer SGPS, SA is the holding company of the Group and has been listed on Euronext Lisbon since June 2007. The Group also has other activities and financial participations: RE Developer - Promotion and Development of wind farms (Martifer Renewables) and 10 % and 49 % financial participation, respectively, in Prio Energy and Nutre.

For further information: Mr Jose Barata, [email protected] or http://www.martifer.pt/en

Contact
Ferrostaal Capital GmbH
Olivia Bernard
Managing director
Palmaille 67
22767 Hamburg
Germany
+49(40)380-22-4268 Phone
+49(151)1455-7015 Mobile
[email protected]