Mar 9 2010
A new joint venture, Aveleos S.A, has been formed by Enovos Luxembourg SA and Zurich-based company, Avelar Energy Ltd., to develop photovoltaic plants in France and Italy. The total capacity of the proposed plants is up to 95 MW. The new company will have its headquarters in Luxembourg.
Enovos Luxembourg is investing EUR 36 million for a 59% stake in the new company, while Avelar Energy will have a 41% stake with an investment of EUR 25 million. The new company will utilize high sun intensity and attractive feed-in-tariffs in France and Italy. Enovos Luxembourg’s commitment to renewable energies is demonstrated through this investment in this joint venture.
Jean Lucius, CEO of Enovos Luxembourg, said the strategic partnership with Avelar Energy for the joint venture will enable the company to leverage its photovoltaic experience. Lucius further said the company is pleased with the location of the headquarters of Aveleos S.A. In November 2009, the company has commissioned a photovoltaic park near Trier with a capacity of 6 MW.
Enovos Luxembourg S.A., which is wholly owned by Enovos International S.A., besides this investment in the new joint venture, will also purchase 11 photovoltaic parks from Avelar Energy. These plants with power output of 1 MW each are scheduled to commence operations during the later part of 2010.
Source: http://www.enovos.eu