Commission clears Centerbridge Partners and Enel JV in the Greek wind sector
The European Commission has approved under the EU Merger Regulation the creation of a joint venture by Centerbridge Partners, L.P. of the USA and Enel S.p.A. of Italy to build a 154 MW wind farm in Greece.
According to the European Commission, the joint venture does not carry out any business activity yet, its object is to build and operate seven wind farms at Kafireas (Euboea) in Greece with a total installed capacity of 154 MW.
The European Commission concluded that the proposed acquisition would raise no competition concerns given the limited overlaps between the companies´ activities.The transaction was examined under the simplified merger review procedure.
The Kafireas wind farm is located on the island of Evia and is expected to generate about 483GWh of electricity per year. The new facility is expected to begin in the first quarter of 2019 and the power generation will be supported by a 20 year power purchase agreement with the Hellenic Electricity Market Operator LAGIE.
The power generated from the wind power plant will be supplied using 150kV high voltage interconnection lines to the mainland consisting of overhead, submarine and underground cables.
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