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MIP develops wind farm in the Germany, plans to expand in CEE

At the end of 2007 Meinl International Power Ltd. (MIP) signed the contracts for the acquisition and development of a wind farm project in the German region of Hohenlohe.

The plants have been set up by Natural Energy Corporation GmbH (Natenco), a German wind farm developer, which is part of the Theolia Group. The construction work has been completed. The project, which comprises six wind farms, is designed for a total capacity of 24 MW. Investment volume of around €41 million ($60 million). The 6 wind farms are located at regional plateaus in the north-eastern parts of the German regions of Swabia and Franconia (Bavaria). Construction of some plants (10 MW) was completed before the end of 2007, which made them eligible for the higher feed-in tariff granted for the year 2007. The remaining plants will soon be connected to the power grid.

Apart from Germany, Natenco also operates successfully in France, the Czech Republic, Hungary, and Croatia as well as in India and Brazil. Natenco is responsible for the technical and commercial management of the 6 wind farms and, in cooperation with Meinl International Power Ltd., is going to develop additional wind farms in Germany and in particular in Eastern Europe. At the end of 2007 MIP signed a contract securing the rights to a wind farm in the Slovak Republic. A decision on feed-in prices for wind power is expected to be made soon in the Slovak Republic; this decision will guide the development of the project, which MIP has secured. (press release)