Greece's Info-Quest, France's EDF agree energy JV

ATHENS, July 31 | Thu Jul 31, 2008 12:31pm EDT

ATHENS, July 31 (Reuters) - Greece's Info-Quest (IQTr.AT), a technology company which has expanded into the energy sector, agreed to establish a renewable energy joint venture with a unit of France's EDF (EDF.PA), the Greek company said on Thursday.

EDF-EN and Info-Quest will set up the company, to be owned 50 percent each, to build, develop and operate wind parks in the country, it said in a statement. Each side will contribute 1 million euros ($1.56 million) to the company's capital.

No further details were given.

Last year, Info-Quest's energy unit bought a small Greek company with two licences to produce wind-powered energy, totalling 11.9 MW of power in northern Greece for 1.6 million euros as part of its expansion plans.

Greece liberalised its energy market last year, making it easier for smaller companies to challenge entrenched power utility Public Power Corp. (PPC) (DEHr.AT), making investment in the renewable energy sector more attractive. (Reporting by George Hatzidakis; editing by Sue Thomas)

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