French flotation of EDF Energies Nouvelles on the way

The much rumoured partial flotation of EDF Energies Nouvelles, the dedicated renewables arm of state-run utility Eléctricité de France, on Euronext's Eurolist market has been confirmed. Late last month the company submitted its initial registration document to the market regulator, the Autorité des Marchés Financiers (AMF). It is not yet known how many shares will be sold, but if all goes to plan, the listing will take place before the end of the year. Paris Mourataglou, chairman of EDF Energies Nouvelles, says the move will "enable the group to take full advantage of the strong dynamic within the renewable energy market and to accelerate growth." His goal is to quadruple the company's ownership of renewable energy capacity from the present 746 MW to 3000 MW by the end 2011. Most of this growth is expected to come from wind power.

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