Airtricity signs up for Portugese JV double

Hey, maybe Portugal lost out in the whole Euro 2008 thing, but you know, at least it’s got wind farms. It will always have wind farms.

Yes, after being booted out of football’s second (more like third) greatest tournament by Germany last week, Portugal will have to take succour where it can get it. And right now, Greenbang’s suggesting that looking at wind farms is an option. Maybe not the best option, but an option. It’s either that or the pasteis de nata.

So , wind farms then.

Airtricity, the renewables arm of Scottish and Southern Energy, has signed a couple of new joint ventures in the country.

Here’s just the facts, ma’am, from SSE:

The first agreement is with Riviera, one of the largest real estate and property development companies in Portugal, to jointly develop a number of wind farms totalling approximately 250MW. Under the terms of this agreement Airtricity will hold a 60% share in the joint venture company and Riviera will hold 40%. As these projects are at an early stage of development, the earliest likely date for construction of the first wind farm is around the end of next year.

Airtricity has also signed an agreement with Portugese and Spanish wind farm developer Hispano Lusa S.L. whereby a joint venture company called Airtricity Marao, will be established. The company will be 90% owned by Airtricity and 10% owned by Hispano Lusa S.L. Airtricity Marao will be responsible for development of eight potential wind farm sites with a potential capacity of 150MW in the Baiao, Amarante and Mondim de Basto areas of northern Portugal.

According to the utility, it’s all part of its plan to invest around £500 million in new markets.