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Terna Energy To Obtain 69MW Wind Farm Permit Soon

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In the coming days, Terna Energy is expected to obtain an installation permit regarding a 69MW wind farm on the uninhabited island of Saint George, 20km south of Cape Sounion. The total amount of the investment is estimated to exceed €130m. 

It took nearly five years to obtain the authorization of the wind farm, which will be connected with the substation located in Lavrion in a distance of 36km. The application was submitted in November 2004 and approved in March 2006, while the preliminary environmental assessment was issued in January 2008. 

This project consist the first to develop an islet (Saint George has a total area of 5 square kilometers) in Aegean Sea, where the wind potential is excellent. The load factor is estimated at 33% versus 25%, which is the Greek average. 

The general meeting of Terna Energy shareholders approved the distribution of a €0.4034 dividend. May 30, 2011 was set as the Ex Dividend Date, while the Right to receive Dividend is held by Company Shareholders that are listed in the records of the Dematerialized Securities System on Wednesday 1 June 2011 and the Dividend Payment Date is set on Tuesday 7 June 2011 and will be paid through PIRAEUS Bank.

The general assembly also approved the amendment of placing of raised fund in financing the recent acquisition of two 178MW parks in the U.S. 

According to the company, the backlog amounts to €71m, while another €25m refer to projects already undertaken by the company and the signing of the contract is expected soon.
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