TREVI GROUP ENTERS THE RENEWABLE ENERGY SECTOR

In the final months of 2007, TREVI Energy S.p.A. was set up with share capital of €1 million. It is 100% controlled by TREVI - Finanziaria Industriale S.p.A. The new company will design, engineer and develop renewable energy projects on its own behalf and for third-parties.

The decision to set up a company dedicated to the renewable energy sector is not only attributable to a desire to adapt some of the technologies already developed and proven in the core business (engineering and services for special foundations, also offshore) and in the drilling sector to this sector, but also to a desire to develop new, innovative technological systems suitable for a sector that is expected to have strong future growth.

The Group is watching with interest the development of energy from wind, particularly the offshore sector where the special foundations required for the wind turbines will be a critical factor and one of the main cost components. Gruppo TREVI’s expertise in special foundations for offshore installations and in advanced engineering has prompted it to take part in several specific projects that are synergic with the core business. It has already started the administrative process required by law to obtain the necessary authorisations to develop off-shore wind farms, mainly in Southern Italy where coping with the depth of the sea bed and variable wind conditions will be all-important in meeting with success.

In the medium-term, the Group will also look at other areas of plant for alternative energy sources, for example, low enthalpy geothermal plant (for residential and industrial heating), which may be considered synergic with the technologies and know-how developed in the Group’s core business and in the drilling sector.

TREVI Group is known for its technological innovation and awareness of environmental problems. A recent example of this is the recognition for safety and environmental care accorded its line of HH drilling rigs.

The Chairman, Mr Davide Trevisani, stated, “In a certain way we feel like we felt ten years ago when we chose to enter the drilling sector. Whilst recognising the fundamental need to approach this new and challenging enterprise with the requisite prudence, we are embarking on this initiative at a moment of significant and vigorous growth both in our core business and in the drilling sector. Therefore, we are certain that our know-how and industrial experience can make a positive and competitive contribution to this area of strong growth, creating value from the construction of wind farms.”