Italy - Sorgenia completes French wind power SFE buy

Sorgenia, an energy unit of Italy's Compagnie Industriali Riunite says it had acquired 99.9 percent of French wind power operator Societe Francaise d'Eoliennes (SFE) for 246.1 million euros ($354.5 million). Sorgenia said in a statement on Wednesday the deal involved a price adjustment which is to be determined by Jan. 31, 2008. CIR said in November it had bought 80 percent of the French wind power operator for about 198 million euros, a major step in its plans to expand in the renewable energy sector. It said SFE, No.2 wind energy operator in France, has 100 MW installed, 39 MW already authorised and close to completion, and around 1,000 MW at different stages of development. Austria's Verbund has a stake in Sorgenia. CIR is controlled by Italian businessman Carlo De Benedetti.