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Electrica and Austria's Warmbetriebe sign Electrica Bio-Heat constitution act

Representatives of Electrica SA and Austria's Warmebetriebe GmbH on Friday signed the constitution act for Electrica Bio-heat, a joint-venture producing biomass-based electricity, that plans to develop to an installed capacity of about 200 MW, Electrica informs.

The Electrica S.A. - Warmebetriebe GmbH common project starts after almost one year of negotiations and fits the policy of Electrica S.A. to develop its own production capacities and thus join the club of integrated companies. Electrica is set to become until 2012 one of the major producers of electricity from renewable sources. The two shareholders will hold an equal 50 pct of the Electrica Bio-heat stake. The management of the new company will be ensured by the Austrian side. In the first stage Electrica Bio-heat intends to identify the best suited locations for the construction of the future power plants. Envisaged are areas with a high potential of raw materials, especially wooden stuff. Electrica SA and Warmebetriebe GmbH experts estimate that the first megawatt of electricity produced on biomass will be supplied to the clients in two years at the most. Sursa: http://www.rompress.ro

Tags: electrica