Danish Asgaard, Indian partner agree on wind-farm development
(ADPnews) - Oct 29, 2010 - Danish real-estate investor Asgaard Group A/S (CPH:ASGGRO) said today it has agreed with Indian conglomerate Siva Group on the development of three specific wind-parks in Eastern Europe, without disclosing financial details.
Final contracts are expected to be concluded in 2010 and will, if implemented, be a breakthrough for the Danish group's efforts to create a broader foundation for its activities which to date have primarily consisted of real estate development projects, Asgaard said.
The turbines will be supplied and installed by Finnish wind-power turbine maker WinWinD as a part of turnkey contract.
Asgaard considers the renewable energy division has the potential to contribute significantly to its earnings already in the current year.