Italy's Alerion takes full control of Wind Power Sud

Italy's Alerion Clean Power SpA (BIT:ARN) said its subsidiary Alerion Energie Rinnovabili completed on Monday the acquisition of the 25% in Wind Power Sud Srl it did not already own for EUR 3.2 million (USD 3.6m).

Alerion Energie Rinnovabili (AER), which already held 75% in Wind Power Sud (WPS), acquired the stake from M&A Rinnovabili Srl and also reimbursed a financing from M&A Rinnovabili worth EUR 5.1 million, Alerion said in a statement.

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. Earlier in February, 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.

Following the acquisition of Wind Power Sud, Alerion's total 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 1.133)

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