Foster Wheeler’s Italian subsidiary, Foster Wheeler Italiana, has sold 50 per cent of its 100 per cent interest in Lomellina Energia SrL to Fineldo Spa. Lomellina Energia was formed to develop, construct and operate a waste-to-energy project using Foster Wheeler fluidised bed technology at a 200 000 t/y plant in Parona, near Milan. The facility, which has been in commercial operation since October, is the first of its kind in Italy to be developed by a private company. Fineldo Spa is the holding company of MPE Spa, a company currently engaged in power project development and electricity trading.
The terms of the deal have not been announced, but according to Foster Wheeler it will reduce the amount of debt on the company’s consolidated balance sheet by around $130 million.
