Dutch owner Econcern acquires French developer Terra Nova
1 January 2007
Dutch company Econcern, mainly concerned with offshore wind plant development to date, has acquired French wind project developer Terra Nova for an undisclosed sum. The deal sees Econcern gain a strong foothold in the French market: Terra Nova has a 1000 MW onshore wind project portfolio. Its 66 projects are located for the most part in the north of France in Picardie, Nord-Pas-de-Calais, Champagne-Ardenne, la région Centre and l'Alsace Lorraine. The two companies have worked together on projects in France for the last 18 months. Terra Nova's project portfolio is a big attraction, says Rick Wasser of Evelop, the European sustainable energy project developer arm of Econcern. For now the Terra Nova name will remain, he says. "There is no need to change it in the short term, Terra Nova has an excellent network and that was attractive for us." Terra Nova's Max Sezille adds: "Now Terra Nova is part of the Econcern group, it will be possible to bring our substantial wind project portfolio to construction." Wasser says Terra Nova will not be the last acquisition for Econcern, which is aiming to build a European-wide network.
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