Hamilton, Bermuda, Nov. 9, 2006 — Foster Wheeler Ltd. announced that its Milan-based subsidiary Foster Wheeler Italiana S.p.A. has been awarded an engineering, procurement and construction (EPC) contract by Voreas S.r.l. for a new wind farm at Pietramontecorvino, in Southern Italy. Foster Wheeler Italiana owns a 50 percent equity interest in Voreas.
The terms of the contract award were not disclosed, but will be included in Foster Wheeler’s third-quarter 2006 bookings.
The new 48 megawatt wind farm will be comprised of 24 wind turbine generators. The new wind farm is expected to be completed by the end of 2007. The plant is expected to sell its power output in the new liberalized Italian power market and is also expected to sell green certificates, an official record proving that a specified amount of electricity has been generated from renewable sources, for the first twelve years of operation, in accordance with recently enacted Italian legislation aimed at encouraging electricity production from renewable sources.
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