Endesa (NYSE:ELE)
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ENDESA (NYSE:ELE):
-- The three wind farms will have a total installed capacity of
60 MW. Two of them will start operating before the first
quarter of 2006.
-- These new farms will allow ENDESA Italia to continue to pursue
its development plan for renewable energies. The group expects
to have installed capacity of 425 MW by 2009, almost half of
which will be up and running in 2006.
ENDESA and Merloni have signed an agreement under which ENDESA
will acquire 51% of the Italian company MF Power, owner of three wind
farms with a total capacity of 60 MW.
Through this agreement, ENDESA will acquire 51% of the Italian
company which owns the Vallesacarda I (installed capacity of 15 MW),
Vallesacarda II (9 MW) and Scampitela (36 MW) wind farms.
The Villesacarda I wind farm will start operating in November,
while the Vallesacarda II project is slated to come on-stream in the
first quarter of 2006, and the Scampitella farm is still at
pre-authorisation stage.
These new farms will allow ENDESA Italia to continue to pursue its
development plan for renewable energies. The group expects to have
installed capacity of 425 MW by 2009, almost half of which will be
operating in 2006.
This operation forms part of ENDESA's strategic plan and is a
further step in the implementation of development policy for Italy.
Merloni
Merloni is owned by Fineldo (the holding company for Vittorio
Merloni's investments), which also controls Indesit Company. Indesit
Company, listed on the Milan stock exchange since 1987, enjoys a
European market share in large household appliances of 15%, with over
20,000 employees, 19 facilities, annual turnover of over Euro 3
billion and annual production of more than 14 million units for
European brands, Ariston and Indesit, and for regional brands,
Hotpoint (UK), Scholtes (France) and Stinol (Russia).
This document may contain certain forward-looking statements
regarding anticipated financial and operating results and statistics
that are subject to risks and uncertainties as well as to material
risks, changes and other factors which may be difficult to predict,
including, without limitation, those factors described in the
Documento de Registro de Acciones of Endesa filed within the Comision
Nacional del Mercado de Valores and in the Form 20-F of Endesa filed
within the Securities and Exchange Commission, both for the fiscal
year ended December 31, 2004. For all of these forward-looking
statements, we claim the protection of the safe harbour for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.