Renewable energy firm Airtricity is to further develop its Portuguese wind farms, announcing two joint venture partnerships in the region.
The company has signed deals with real estate and property development firm Riviera and Spanish and Portuguese wind farm developer Hispano Lusa. Under the deal with Riviera, the firms will jointly develop a number of wind farms, totalling approximately 250MW, and Airtricity will hold a 60 per cent share in the venture.
The deal with Hispano Lusa will see a joint venture company called Airtricity Marao established, of which Airtricity will own 90 per cent. It will develop eight potential wind farm sites with a potential capacity of 150MW in the Baiao, Amarante and Mondim de Basto areas of northern Portugal.
Portugal has set a target of sourcing 45 per cent of its energy consumption from renewable sources by 2010.