Expansion of W.E.B business activities in Italy

W.E.B goes for complete takeover of the project company SELT

In late January 2018, WEB Windenergie AG assumed full ownership of the Italian enterprise Societa Elettrica Ligure Toscana (short: SELT), in which it had previously held a share of 50 percent. It was established as a joint venture with the Milan-based Fabbrica Energie Rinnovabili Alternative S.r.l (FERA), an Italian company in the field of renewable energy, to develop of the wind farm project Foce del Cornia.  

The six wind power plants of Foce del Cornia with a total capacity of 19.8 MW will turn a former industrial site near Piombino along the coast of Tuscany into a new haven of clean energy production. The project was also accepted in the course of the tendering procedure in late 2016. Although a complaint was lodged against the entire Italian call for tender, we expect a decision in the next few months and hope to start the construction works in the third quarter of 2018. “We have already established highly professional structures in our Italian business unit, which is why the complete takeover provides us with much more flexibility in the implementation of the project,” as W.E.B CEO Frank Dumeier explains this agreement. “Now we are able to fully incorporate our W.E.B standards and build in a more cost-efficient way.”