CEFN CROES WIND PROJECT MOVES FORWARD IN WALES
Project to Provide Local and National Benefits
LONDON, UNITED KINGDOM - April 26, 2004 - In support of the United Kingdom's renewable energy target to produce 15% of its electricity from renewable sources by the year 2015, construction activities recently commenced on the Cefn Croes Wind Project in Wales.
Recently acquired by Falck Renewables Limited, the wind energy subsidiary of the Falck Group of Italy, the project was co-developed by the Renewable Development Company (RDC) of Mold, Wales and GE Energy. Full turnkey construction, wind turbine supply, operation and maintenance services are being provided by GE Energy.
"We are very pleased to be taking this world-class project forward," said Achille Colombo, managing director of the Falck Group. "The project will make an important contribution toward the target for growth of renewable energy as well as providing strong economic support to the local area."
Located near Devil's Bridge, approximately 15 kilometers east of Aberystwyth, the project will utilize 39 GE 1.5-megawatt wind turbines, among the world's most proven and widely utilized wind turbines of their class with over 2,200 installed worldwide.
"We are delighted to be working with Falck and RDC to bring new renewable capacity to Wales," said Steve Zwolinski, CEO of GE Energy's wind segment. "GE has enjoyed a long-time presence in Wales where we currently employ 1,000 people. We are pleased that this showcase project will represent GE's first wind turbine installation in Wales."
Once completed in October 2004, the Cefn Croes Wind Project will add 58.5 megawatts of new renewable capacity, a significant contribution toward meeting the UK's renewable energy targets. With an electricity mix currently supplied primarily by imported oil products, gas and coal, wind energy generation will allow Wales to utilize its clean, abundant natural resource while reducing imports and increasing energy security.
The project's power will be sold to the Non-Fossil Fuel Purchasing Agency and distributed to the national grid through SP ManWeb. The wind plant's estimated annual generation will add enough new capacity to serve approximately 40,000 households.
"RDC worked closely with the local community throughout the development process, and local support is a fundamental factor in the project's success," said Michael Haas, Director of RDC.
From its earliest planning stages, the project has been designed to provide significant local benefits. It represents one of the largest single investments ever made in the Ceredigion area of mid-Wales.
Project developers estimate £9 million of local Welsh contracts will be made available through project construction, with about £5 million to be sourced in mid-Wales. The project will provide on-site employment opportunities for more than 100 people over the construction period, and four ongoing service jobs once the project is complete.
Located on 7.5 square kilometers of land leased from the Forestry Commission, the project includes an ambitious land management program valued at £250,000 that is aimed at restoring the site's ecological value lost through commercial forestry and intensive agriculture.
A community fund is also being established. The fund is expected to represent an annual value of £58,500 to provide local community benefit for such matters as energy efficiency, environmental education, conservation and environmental management, tourism and community development.
About GE Energy
GE Energy (www.gepower.com) is one of the world's leading suppliers of power generation and energy delivery technology, with 2003 revenues of nearly $18.5 billion. Based in Atlanta, Georgia, GE Energy provides equipment, service and management solutions across the power generation, oil and gas, transmission and distribution, distributed power and energy rental industries.
With global design and manufacturing capabilities in Germany, Spain and the United States, GE Energy's current product portfolio includes wind turbines with rated outputs ranging from 1,500 to 3,600 kilowatts, and support services ranging from project development assistance to operation and maintenance. The company has developed and/or installed more than 6,600 wind turbines with a total capacity exceeding 4,700 megawatts, and employs more than 30,000 people worldwide.
About Falck Group and Falck Renewables
The Falck Group (Gruppo Falck) has an industrial history dating back almost 100 years, beginning in steel manufacturing. Today, the Falck Group is active in a number of key businesses including: power generation from waste and renewable sources, the commericalization of cold-processed steel products, significant shareholding in Aeroporti di Roma (the company which operates Rome airports), financial investments in banks listed on the Italian Stock Exchange, and EPC (engineering, procurement and construction) in the sectors of power generation and infrastucture.
Falck Renewables Limited, headquartered in London, is the wind energy subsidiary of the Falck Group. It is engaged in developing, financing, constructing, operating and marketing the output of wind projects. It operates across Europe with a focus on the U.K., Italy and Spain.
About Renewable Development Company
RDC, with its headquarters in Mold, North Wales, was formed in 1996 by a team with extensive international experience in the development, financing and implementation of renewable energy products. RDC has established a sizeable portfolio of viable wind energy development opportunities across the U.K. In addition to Cefn Croes, the company also has obtained consents for the 150-megawatt Rhyl Flats offshore wind farm off the North Wales Coast. Currently RDC is in the process of developing approximately 300 megawatts of capacity in Scotland and England with Falck Renewables.
