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EGL takes stake in Spanish wind farm

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The EGL Group, a pan-European asset-backed energy trading company, has purchased 46% of Parque Eólico La Peñuca SL, owner of the wind park La Peñuca with 33 MW installed capacity. This acquisition underscores EGL’s strategy to increase the share of renewable energies in its portfolio.

In Spain, EGL manages a portfolio of renewable energies with more than 6,500 MW installed capacity via its subsidiary EGL Energía Iberia SL. EGL has in depth knowledge of the Spanish wind energy market, as 71% of the managed portfolio corresponds to wind parks. The developer and operator of the wind park, Energías Renovables del Bierzo (ERBI) owns 51% of La Peñuca.

“The wind park fits in perfectly with EGL’s strategy to increase the share of renewable energies in our portfolio,” says Guy Bühler, Head of the Assets division and member of EGL Executive Management. The new partnership is a win-win situation for the wind park. Reason: As a locally present partner, ERBI has many years of experience and counts among the best when it comes to development and construction, as well as technical management of wind parks.

On the other hand, EGL, as a European energy trading company, is ideally positioned to market the wind energy in Spain. “In purchasing shares in the wind park, EGL is demonstrating that, in addition to trading, it also actively supports sustainable power production in Spain through wind power,” says Guy Bühler.

La Peñuca, in operation since 2006, has a capacity of 33 MW with its 22 Neg Micon wind turbines. The wind park is located in Burgos, a province in the north of Spain, and a region with excellent wind conditions of up to 3,000 hours yearly.

In the past years, EGL's wind energy branch in Spain has developed into a very dynamic business sector. The trend came about through Spain’s policy to promote renewable energies. With an installed capacity of more than 20,000 megawatts, Spain now ranks three in wind energy production, behind leaders USA and Germany.

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EGL

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