Eurus Energy, the Japanese clean energy providers has acquired 50 percent stake in two wind farms in Italy, operated by Maluni.
The two plants are IVPC Power 4 and IVPC Power 9 with a combined capacity of 31.15MW.
Located at Calabria, these wind farms commenced operation in 2008 and 2009, respectively.
The IVPC Power 4 project features a 12.75 MW capacity that include 15 850kW turbines made by Danish manufacturer Vestas.
On the other hand, the 18.4MW IVPC Power 9 plant is powered by four 850kW machines and five 3MW turbines provided by Vestas.
Through this deal Eurus Energy’s total generation capacity will be up to 200.35MW in Italy.
Besides, the company has plans to invest $2.76bn for new wind projects in Europe and US in future.
GSE, the state-owned renewable energy firm will buy the produced energy from both the projects.
Eurus and Maluni have not disclosed the financial details of the transaction.
Since 1996, Eurus Energy and Maluni have been jointly operating wind projects in Campania and Puglia.
Eurus Energy is a joint venture between Tokyo Electric Power and Toyota Tsusho.
The Tokyo firm is planning to expand its wind business in Italy, as the government focus on generating power from renewable energy.
Italy plans to generate 17 percent of its electricity consumption from renewable energy, within which wind power will account for 12,600MW.