Germany RWE AG's (RWE.XE) RWE Innogy GmbH has acquired a series of wind farm projects in western Hungary, in a deal with project developer Aufwind Schmack GmbH, Regensburg, RWE said Wednesday.
The projects have already received initial planning permission and will deliver a total volume of around 300 megawatts, or MW, of power. The final construction permits for the schemes are expected later in 2008.
The deal will also see Aufwind Schmack's local project development company, AET Kft., transferred to RWE Innogy's control.
"For RWE Innogy, planning, development and operation of wind farms are fixed elements of the organic growth strategy. With the projects now planned, we will also secure ourselves a good starting position in Hungary, a key growth market for renewable energies," said Fritz Vahrenholt, Chief Executive of RWE Innogy.
Hungary is striving to cover around 13% of primary energy needs based on renewable by 2020. The corresponding value today is around 4%. Hungary already has more than 65 MW of installed capacity in the wind power area.