Copenhagen, 22 November 2011
Company Announcement No 49/2011
Partial unseizure of the Energia Alternativa (Cagliari II) wind farm in Sardinia
Greentech Energy Systems A/S has been informed that the Court of Cagliari has unseized 7 of 16 turbines and allowed to fulfill the works to finalise the Energia Alternativa (Cagliari II) wind farm in Cagliari (Sardinia). As announced on 6 June 2011, the construction of the wind farm was stopped for pre-emptive reasons due to, according to the public prosecutor, irregularities allegedly committed in the development of the project during the period from 2003 to 2008.
Greentech has been working hard to fulfill all the compliance issues with the authorities and is confident that the remaining 9 turbines will be unseized shortly in order for the public prosecutor to be able to close the case. Greentech considers the completion of the unseizure a mere formality.
Peter Høstgaard-Jensen, Chairman of Greentech, commented:
"Greentech is very proud that the new management is demonstrating knowledge of the business by solving so rapidly the Italian regulatory and administrative issues. This, once again, demonstrates the new management team’s ability to deliver results."
The Board of Directors
For further information, please contact:
Sigieri Diaz della Vittoria Pallavicini, CEO, tel: +45 33 36 42 02
Peter Høstgaard-Jensen, Chairman of the Board of Directors, tel: +45 40 10 88 71