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Press Release

 

WKN sells Francofonte Wind Farm to Allianz Investments

December, 2005  - Francofonte Wind Farm project was sold by WKN to Allianz Specialised Investments. With 72-megawatt installed generation capacity, Francofonte will be one of the largest wind farms in Italy, generating 111 million kilowatt hours per annum - enough electricity to supply the needs of more than 46,000 households. The project is to be constructed in south-eastern Sicily, and is scheduled to start operating in April 2007.

 

This transaction represents the first sale of a wind farm developed by a German wind farm developer outside of Germany to an international investor.  In addition, the project is also the first project in Italy:

  • which was sold as a project operating solely under the Green Certificate scheme,
  • where only project rights were sold.

 

Thomas Pütter, co-head of Allianz Alternative Asset Holding, said: "Investments like this one in renewable energies, especially wind, offer an attractive yield with an acceptable risk profile. They will generate an attractive annual income stream."


Fieldstone and Benedetti , Rossi and Partners advised WKN in the sale of the Francofonte Wind Farm.

 

The Berlin office based Fieldstone Team was led by Jason Harlan, Managing Director, and Marc Schultz, Head of Renewables Europe.