Endesa (NYSE:ELE)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Endesa Charts. Click Here for more Endesa Charts.](/p.php?pid=staticchart&s=NY%5EELE&p=8&t=15)
The Eólicas de Portugal consortium, in which
ENDESA (NYSE:ELE) owns a 30% stake, has won the concession tendered by
the Portuguese government for the installation of wind farms with a
total capacity of 1,200 MW. The concession agreement was signed today in
Viana do Castelo in a ceremony presided over by the Portuguese Minister
for the Economy and Innovation.
The consortium is 30%-owned by ENDESA, 40%-owned by EDP, 20%-owned by
GENERG (a Portuguese wind farm developer) and 10%-owned by SONAE
(Portugal’s largest industrial conglomerate
and ENDESA’s partner in the development of
around 60 MW of wind farms in Portugal) and additionally comprises
ENERCON, the world technological leader in the development and
production of wind turbines with factories in five countries.
The consortium was awarded not only the 800 MW that was publicly
tendered but also the two 200 MW bonus concessions provided for in the
tender. The first bonus concession was awarded because the consortium’s
tender proposal exceeded the minimum quality requirements and the
second, as a prize of outstanding merit.
Eólicas de Portugal’s
proposal was the best rated by the jury, outranking the other consortium
that had also reached the final stage.
The Eólicas de Portugal project entails
investment of over Euro 1.5 billion between 2006 and 2011 and will
generate over 1,800 new jobs. The initiative comprises the installation
of 48 wind farms with capacity of between 20 and 25 MW at a broad range
of sites throughout Portugal. The wind park developments are mostly
located in the regions of Minho, Upper Beira, Lower Beira, Extremadura
and the Algarve.
The project additionally envisages the development of an industrial
estate in Viana do Castelo with a planned total surface area of 135,000m2.
The facility will consist of the production facilities required to
guarantee the integral production of a new ENERCON wind turbine model,
the E-82, for the consortium, with a production capacity of 180 wind
turbines/year and 600 poles/year.
Thanks to the additional capacity accruing to ENDESA by virtue of
winning this tender, the Company will have almost 700 MW of wind
capacity in Portugal making it the country’s
second largest wind energy producer and the largest non-Portuguese
electric utility in the sector.
At present, ENDESA’s participates in the
Portuguese renewable energy and cogeneration sectors together with
Sociedade Térmica Portuguesa, in a 50/50
joint venture which has 56 MW of cogeneration capacity. In addition,
ENDESA acquired 100% of FINERGE in 2005, which had an installed capacity
of 107 MW at the end of 2005 and plans to boost its output to 320 MW by
2007.
ENDESA’s also participates in the Portuguese
electricity system through its stake in Tejo Energía
and the sale of electricity to end customers on the deregulated market.
ENDESA holds a 38.9% stake in Tejo Energía,
the company that owns the 600 MW coal-fired Pego plant, one of the
country’s largest facilities. This plant has
long-term contracts to sell its energy to the Portuguese grid and
produced 4,702 GWh of power in 2005, up approximately 6% on 2004.
In 2005 ENDESA cemented its position in the Portuguese deregulated
market with total sales of 2,223 GWh, an increase of 23.6% on 2004 to
give it a 33% share of the deregulated market and a customer base of
over 2,700. Since May 2002 ENDESA has been active in this market through
Sodesa, created through a 50/50 joint venture with Portuguese industrial
conglomerate Sonae. Sodesa is currently the second-ranked supplier to
the Portuguese deregulated market.
* 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 Comisión
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, 2005. 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.
The Eolicas de Portugal consortium, in which ENDESA (NYSE:ELE)
owns a 30% stake, has won the concession tendered by the Portuguese
government for the installation of wind farms with a total capacity of
1,200 MW. The concession agreement was signed today in Viana do
Castelo in a ceremony presided over by the Portuguese Minister for the
Economy and Innovation.
The consortium is 30%-owned by ENDESA, 40%-owned by EDP, 20%-owned
by GENERG (a Portuguese wind farm developer) and 10%-owned by SONAE
(Portugal's largest industrial conglomerate and ENDESA's partner in
the development of around 60 MW of wind farms in Portugal) and
additionally comprises ENERCON, the world technological leader in the
development and production of wind turbines with factories in five
countries.
The consortium was awarded not only the 800 MW that was publicly
tendered but also the two 200 MW bonus concessions provided for in the
tender. The first bonus concession was awarded because the
consortium's tender proposal exceeded the minimum quality requirements
and the second, as a prize of outstanding merit.
Eolicas de Portugal's proposal was the best rated by the jury,
outranking the other consortium that had also reached the final stage.
The Eolicas de Portugal project entails investment of over Euro
1.5 billion between 2006 and 2011 and will generate over 1,800 new
jobs. The initiative comprises the installation of 48 wind farms with
capacity of between 20 and 25 MW at a broad range of sites throughout
Portugal. The wind park developments are mostly located in the regions
of Minho, Upper Beira, Lower Beira, Extremadura and the Algarve.
The project additionally envisages the development of an
industrial estate in Viana do Castelo with a planned total surface
area of 135,000m2. The facility will consist of the production
facilities required to guarantee the integral production of a new
ENERCON wind turbine model, the E-82, for the consortium, with a
production capacity of 180 wind turbines/year and 600 poles/year.
Thanks to the additional capacity accruing to ENDESA by virtue of
winning this tender, the Company will have almost 700 MW of wind
capacity in Portugal making it the country's second largest wind
energy producer and the largest non-Portuguese electric utility in the
sector.
At present, ENDESA's participates in the Portuguese renewable
energy and cogeneration sectors together with Sociedade Termica
Portuguesa, in a 50/50 joint venture which has 56 MW of cogeneration
capacity. In addition, ENDESA acquired 100% of FINERGE in 2005, which
had an installed capacity of 107 MW at the end of 2005 and plans to
boost its output to 320 MW by 2007.
ENDESA's also participates in the Portuguese electricity system
through its stake in Tejo Energia and the sale of electricity to end
customers on the deregulated market.
ENDESA holds a 38.9% stake in Tejo Energia, the company that owns
the 600 MW coal-fired Pego plant, one of the country's largest
facilities. This plant has long-term contracts to sell its energy to
the Portuguese grid and produced 4,702 GWh of power in 2005, up
approximately 6% on 2004.
In 2005 ENDESA cemented its position in the Portuguese deregulated
market with total sales of 2,223 GWh, an increase of 23.6% on 2004 to
give it a 33% share of the deregulated market and a customer base of
over 2,700. Since May 2002 ENDESA has been active in this market
through Sodesa, created through a 50/50 joint venture with Portuguese
industrial conglomerate Sonae. Sodesa is currently the second-ranked
supplier to the Portuguese deregulated market.
* 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, 2005. 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.