Saras buys 30% Parchi Eolici Ulassai stake from Babcock & Brown Wind Energy

Italian refiner Saras has acquired a 30% stake of the share capital of Parchi Eolici Ulassai from Babcock & Brown Wind Energy for a total consideration of around E30 million.

Saras now owns 100% of Parchi Eolici Ulassai, which in turn fully owns Sardeolica, whose wind parks produced a total of 168,000MWh with earnings before interest, taxes, depreciation and amortization of E26 million in 2007. At the end of 2007, Sardeolica’s non recourse net debt amounted to E77 million.