Alerion Clean Power SpA's Subsidiary Signs Agreement with Banco Santander SA's Capital Riesgo Global SA for Construction of Wind Power and Sells 92% of the shares in Eolsiponto Srl

Friday, 2 Aug 2013 08:04am EDT 

Alerion Clean Power SpA announced that, through its subsidiary Alerion Servizi Tecnici e Sviluppo S.r.l., it has signed with Capital Riesgo Global SA, a company of Banco Santander SA's Group, an agreement for the construction and operation of a wind power plant in Italy, in which Alerion will act as industrial partner. This agreement represents for Alerion the start up of a relationship with Santander that could lead in the coming years to the construction of further wind power plants in Italy. The agreement was formalized with the sale to Santander of 92% of the shares in Eolsiponto S.r.l., company holder of the authorization for the construction and operation of a wind power plant of 17.5 MW in the municipality of Manfredonia (FG). Alerion, which will retain a shareholding of 8%, will be paid to coordinate the construction of the entire plant and, in particular, to perform the civil and electrical works. The consideration for the sale of the investment is approximately EUR 3.3 million, of which approximately EUR 2.4 million already cashed in on August 2, 2013 and approximately EUR 0.9 million to be cashed by December 2013. 

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