PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Enel Group

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Enel Green Power, Generali and Terrae Finalise Agreement for the Development of Biomass - The Enel Group renewable energy company and the insurance-financial group close the acquisition of a 15% stake each in the capital of Terrae
Enel Green Power, Generali and Terrae Finalise Agreement for the Development of Biomass

 

NewswireToday - /newswire/ - Rome, Italy, 2011/06/06 - The Enel Group renewable energy company and the insurance-financial group close the acquisition of a 15% stake each in the capital of Terrae. IT0003128367

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The partners will promote the development of projects for power generation from locally-sourced biomass.

Enel Green Power and Generali have finalised an agreement with Terrae, a company devoted to reconverting and leveraging the beet and sugar industry, and ANB - National Association of Beet Growers, for each to acquire a 15% stake in Terrae.

The transaction thus places 30% of the share capital of the company, whose objective is to promote and develop projects for power generation from locally-sourced biomass.

The acquisition of the holdings follows the signing of an agreement between the partners for the joint promotion of projects in power generation from biomass, thereby bringing together three essential components under one entity: the agricultural sector, for the production of biomass; the industrial sector, for power generation, and the financial sector, to provide financial support for the investments.

The entrance of Enel Green Power as a Terrae shareholder and industrial partner will give it a direct channel to the agro-energy industry, generating significant synergies in the supply of biomass, and direct access to the agronomic know-how of sector associations and consortia applied to biomass crops.

The agreement also gives Enel Green Power a controlling stake in the special purpose companies that will be established to develop larger-scale industrial initiatives.

The Terrae business plan mainly focuses on the construction and operation of biomass power generation plants based on industry agreements, while providing for the possibility of undertaking projects involving other renewable technologies, including experimental initiatives.

Terrae will continue the process of placing its remaining shares, corresponding to 18% of the share capital. ANB retains a 41% stake, confirming the key role of the agricultural sector in Terrae's strategy for sourcing biomass as a raw material for electricity generation.

As emphasised by Chairman Federico Vecchioni,"Terrae is a concrete, innovative example of integration between agriculture and the energy industry, and gives operators in the agro-industrial sector the opportunity to diversify and contain production costs."

"The closing of this agreement demonstrates Enel Green Power's intention to develop locally-sourced agricultural biomass", stated Francesco Starace, CEO and General Manager of EGP. "We are already working on the business plan, which focuses the development of small and medium-sized plants well distributed across the country and supplied from local biomass producers. We believe that local sourcing will contribute to the development of the areas around plants and ancillary industries by encouraging both the cultivation of more energy-effective crops and the exploitation of waste materials created by existing production activities."

For more information visit enel.com/.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Enel Group

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Enel Green Power, Generali and Terrae Finalise Agreement for the Development of Biomass

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Enel Green Power |
Publisher Contact: Enel Group - Enel.com 
+39.06.8305.1 ufficiostampa[.]enel.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Enel Group securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Enel Group / Company Profile


Read Energy Most Recent Related Newswires:

ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
Vestas Secures 112 MW for Three Projects in France
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016
BP and GE Launch New Offshore Digital Technology with Plans to Deploy Globally
GE Digital Acquires ServiceMax to Extend Predix and Analytics Across Field Service Processes
GE Digital Launches Collaborative App Development Program to Expand Digital Industrial Ecosystem
Voith Awarded A Prestigious Automation Contract for Two Norwegian Hydropower Plants

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)