France

France

Theolia launches wind investment company with IWB

FRANCE: French independent wind-power producer Theolia plans to create a funding vehicle with Swiss utility IWB to jointly invest in wind-power projects in France, Germany and Italy.

Theolia said the Theolia Utilities Investment Company would be open to "utilities, producers and distributors of electricity, willing to commit themselves for the long term.

The target is €100 million of equity, allowing investments of over €300 million when combined with project financing.

IWB will take a 30% stake, while Theolia will hold 70% in the first instance, though aims to reduce this to 40% as more partners join.

The company will buy projects from Theolia, which will also undertake the development, construction and operation of the plant on a fee basis.

Theolia CEO Fady Khallouf  said: "Revenues and advantages generated by this partnership will allow [Theolia] to accelerate its development.

The group currently operates 877MW of wind-power installations on its own account and for third parties in France, Germany, Italy and Morocco.

IWB currently generates 7% of its production from wind. It owns 4.6MW in Switzerland and in June bought 61MW operating in France from Samfi-Invest. The company is aiming at 500GWh of wind, solar and biomass generation in 2015.

 

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