Enel Green Power has signed a partnership agreement with Terrae (Italy), an agro-industrial company aiming to redevelop the beet and sugar sector. As part of the agreement EGP has obtained a 15% stake in the company.
The two companies will collaborate on biomass energy development, based on local biomass sources. For this purpose, the partners will tap the agricultural industry and its biomass production chain, and couple that with power generation management and financing in order to develope future energy projects. A special-purpose company will be set up, in which Enel will hold a controlling ownership stake, for individual industrial initiatives exceeding 1 MW of capacity.
The partnership is seen as strategic, allowing sugar beet industry companies to reconvert their operations into agro-energy and agro-industry, having support from a major renewable energy developer such as Enel Green Power.
[sourc: Enel Green Power]