METLEN ENERGY & METALS S.A.
Press Release-NEW INVESTMENTS OF MYTILINEOS GROUP IN "GREEN ENERGY" The Greek listed company acquires the Greek wind portfolio of Dong Energy AS of a total installed capacity of 18.6MW .
Mytilineos Group, in line with the implementation of the commonly agreed strategy with Endesa Hellas SA for the dynamic expansion in the Greek electricity market announces the acquisition of the Greek wind portfolio of Dong Energy AS comprising of Energie E2 Aioliki SA and Energie E2 Aiolika Parka Karystias LLC. Said companies own 4 wind farms in operation located on the island of Evia of a total installed capacity of 18.6MW, bringing the total renewable capacity of Mytilineos / Endesa J.V. to 45MW in operation and 798,25MW in various stages of development.
Adjusting for the Companies' net interest bearing debt position as of 31/12/2007, the total net consideration to be paid amounts to c. Euro 27 mio. The parks operate Nordex technology turbines and became operational in late 2002 / early 2003. Consolidated 2007 revenues amounted to c. Euro 4.1 mio while consolidated EBITDA stood at c. Euro 3 mio. The transaction is subject to the relevant regulatory approvals.
This acquisition signals the further enhancement of Endesa Hellas' Greek Renewable Energy portfolio with new projects sited in high-potential areas for wind power, reinforcing its shareholders' commitment to become Greece's largest independent power producer.
The above wind parks will be contributed to Endesa Hellas SA with the completion of its capitalization and the contribution of the last remaining energy assets from Mytilineos Group to Endesa Hellas S.A.
Commenting on the acquisition the CEO of Mytilineos Group and Chairman of the Board of Directors of Endesa Hellas Mr Evangelos Mytilineos, said: "This acquisition is one more step towards the creation of a sizeable renewable and thermal asset portfolio in the newly liberalized Greek and regional markets. We are on course to fulfill our shareholders' expectations to have the leading role in the private energy sector in our country".
For additional information please contact: Mr. Nikolaos Kontos, Group Investor Relations Officer (Tel.: 210-6877309, Fax: 210-6877400, e-mail: nikos.kontos@mytilineos.gr).
Adjusting for the Companies' net interest bearing debt position as of 31/12/2007, the total net consideration to be paid amounts to c. Euro 27 mio. The parks operate Nordex technology turbines and became operational in late 2002 / early 2003. Consolidated 2007 revenues amounted to c. Euro 4.1 mio while consolidated EBITDA stood at c. Euro 3 mio. The transaction is subject to the relevant regulatory approvals.
This acquisition signals the further enhancement of Endesa Hellas' Greek Renewable Energy portfolio with new projects sited in high-potential areas for wind power, reinforcing its shareholders' commitment to become Greece's largest independent power producer.
The above wind parks will be contributed to Endesa Hellas SA with the completion of its capitalization and the contribution of the last remaining energy assets from Mytilineos Group to Endesa Hellas S.A.
Commenting on the acquisition the CEO of Mytilineos Group and Chairman of the Board of Directors of Endesa Hellas Mr Evangelos Mytilineos, said: "This acquisition is one more step towards the creation of a sizeable renewable and thermal asset portfolio in the newly liberalized Greek and regional markets. We are on course to fulfill our shareholders' expectations to have the leading role in the private energy sector in our country".
For additional information please contact: Mr. Nikolaos Kontos, Group Investor Relations Officer (Tel.: 210-6877309, Fax: 210-6877400, e-mail: nikos.kontos@mytilineos.gr).