Italy's Alerion buys another 25% in Wind Power Sud, lifts interest to 75%

Italy's Alerion Clean Power SpA (BIT:ARN) said its subsidiary Alerion Energie Rinnovabili bought Thursday another 25% in Wind Power Sud Srl for EUR 8.2 million (USD 9.4m), thus raising its interest to 75%.

Alerion Energie Rinnovabili (AER) signed in September 2014 a preliminary agreement to buy the 50% of Wind Power Sud (WPS) it did not already own from M&A Rinnovabili Srl and G Campione di Giuseppe Campione & C Snc. On Thursday, AER acquired from G Campione di Giuseppe Campione & C Snc 25% in Wind Power Sud, which has a 34-MW wind power plant in Agrigento, southern Italy.

The acquisition of the other 25% in WPS from M&A Rinnovabili for EUR 8.3 million is expected to take place by the end of February 2015, Alerion said in a statement.

Following the acquisition of WPS, Alerion's combined installed capacity will rise to 234 MW from 200 MW. WPS is estimated to have earnings, before interest, tax, depreciation and amortisation (EBITDA) of EUR 8 million, which will be consolidated into Alerion's profit and loss statement.

(EUR 1 = USD 1.143)

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