Italy's ERG Renew enters Polish wind
Italian renewables developer ERG Renew will make its debut in the Polish wind market after signing an agreement with Vortex Energy to purchase EW Orneta 2, a project company building a 42MW wind farm in Radziejów, eastern Poland.
ERG Renew expects to commence construction in the third quarter of 2014 with a view to coming online by mid-2015.
The total investment cost of the wind farm is estimated at €65m ($89m), which already includes the sum to be paid for the project company's enterprise value, about €7.2m.
Finalising of the deal is scheduled to take place by the end of July 2014, ERG Renew said.