Italian energy company Sorgenia SpA said Monday it has agreed to buy
80% of French wind concern Societe Francaise d'Eoliennes, or SFE, in an
auction for EUR198 million, as it expands into renewables.
Sorgenia, which is controlled by Italian financier Carlo De
Benedetti's holding company Compagnie Industriali Riunite SpA ,
said the deal is expected to close by the end of the year.
The Italian company said SFE's remaining shareholders may
sell their 20% stake by the end of 2007. SFE currently has debts of
about EUR97 million.
SFE is France's second-biggest wind power company, according
to Sorgenia. SFE has an installed capacity of 101.5 megawatts, while a
further 120MW are authorized or under construction. Permits are being
sought for another 1,100MW, it said.
Sorgenia's shareholders include Austrian power generator and
grid operator Verbund AG and Italian lender Banca Monte dei
Paschi di Siena SpA.