- Published: 13 December 2006 13 December 2006
3i has enhanced its presence in the gas and power market by investing €30 million for a minority stake in Electrawinds, a Belgium independent renewable energy company..
Electrawinds, which operates in Belgium and Italy, currently has 45MW of installed capacity in wind and biomass energy.? Since its formation in 1998, Electrawinds has invested a total of €100 million in renewable energy projects.? The company has plans to add a further 400MW of energy generation. 3i's investment will allow Electrawinds to construct and develop additional wind and biomass projects across Europe. The company currently has branches in Portugal, Greece, Romania, Bulgaria and Africa and this investment will allow these activities to be expanded. Over the coming year, Electrawinds is planning to invest a further €100 million in renewable energy projects.? Electrawinds is aiming for turnover of €22.8 million in 2006, €50 million in 2007 and €100 million in 2008.