Portuguese wind co Finerge to enter solar auction

Source: EBRD (www.ebrd.com)

June 20 (Renewables Now) - Portuguese wind power company Finerge will take part in Portugal's solar tender that is scheduled for July, local media reported on Wednesday quoting Finerge's head.

The announcement was made by CEO Pedro Norton during the inauguration event of the firm's new office in Matosinhos, Porto district. Finerge will also enter the greenfield, park development and construction areas.

The executive said that the company will not participate with many projects as the decision to enter the solar development area is relatively recent.

Finerge, owned by Australian First State Investments fund, will also start to look for opportunities for new acquisitions outside the Portuguese market, initially in Spain and France. Once the company has these potential assets under its belt, it will then start the greenfield phase, said the CEO.

The company has a wind power portfolio capable of generating 2.12 TWh a year and to date has invested around EUR 1.2 billion (USD 1.3bn) in Portugal.

(EUR 1 = USD 1.12)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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