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On 3 March 2010, Enovos Luxembourg S.A. and Avelar Energy Ltd. (based in Zurich), signed a contract to form a joint venture under the name 'Aveleos S.A.'. The objective of this new company, which is headquartered in Luxembourg, is to develop, operate and bring to the market photovoltaic plants in Italy and France with a total capacity of up to 95 MW. Enovos Luxembourg S.A. is a 59% shareholder in the new company with an investment of EUR 36 million. Avelar is investing EUR 25 million, giving it a 41% stake. Aveleos S.A. makes use of attractive feed-in tariffs and high sun intensity in Italy and France. With this investment, Enovos Luxembourg S.A. underlines its commitment to the field of renewable energies. 'The joint venture with Avelar Energy is a strategic partnership that allows us to...
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