Spanish Fenosa To Invest In Latin American Renewables

ENERGY TECH

by Staff Writers
Madrid (AFP) June 13, 2007
The third biggest Spanish power company, Union Fenosa, said Wednesday it will invest 1.65 billion euros (2.20 billion dollars) over five years to develop renewable energy resources in Latin America. The investment would raise the firm's renewable energy capacity in Latin America to 1,400 megawatts from the current 900 megawatts, it said in a statement.

Wind projects will account for 55 percent of its new renewable energy capacity while hydroelectric projects will provide the rest.

"With these new projects in Latin America, Union Fenosa will prevent the emission of over one million tonnes of CO2 annualy," the statement said.

The firm said it was planning to build a wind farm in Mexico with a capacity of between 500 and 1,000 megawatts as well as projects in Colombia, Costa Rica and Panama as part of its 2007-2011 strategic plan dubbed "BIGGER".

Source: Agence France-Presse

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ENERGY TECH

Rosneft To Invest A Billion Dollars ln New Fleet To Tap Far East Shelf Oil Deposits

Moscow (RIA Novosti) Jun 14, 2007
Russian state-controlled oil giant Rosneft plans to spend $1.2 billion on the construction of ships to develop oil fields off Russia's Far East coast, the company's CEO said Wednesday. Addressing a conference on prospects for maritime operations, Sergei Bogdanchikov said Rosneft currently needed to build 27 vessels for the development of shelf deposits. Three of the ships are already under construction.

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