Russian businesswoman to pour EUR 10m in renewables JV
Jun 30, 2014 - An Austrian firm owned by Russian businesswoman Yelena Baturina will invest at least EUR 10 million (USD 13.6m) in a new renewable energy joint venture, the goal of which is to reach 135 MW of total capacity.
The Austrian company, called Inteco Beteiligungs GmbH, said in a press release on Friday it had agreed with German firm RE-Pro Renewable Energy Provider KGaA to jointly purchase and develop solar projects in southern and southeastern Europe. Baturina may double her JV investment at a later stage, Inteco noted.
The JV has already bought a fully-equipped, operating solar farm in Italy. Details about this transaction or the facility itself were not provided.
Inteco noted it expects this joint initiative to be profitable for the company.