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.

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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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