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Share placement by Valorem

Bordeaux-based renewable energy developer and producer Valorem has raised EUR 16 million in a private share placement aimed at growing its net operating capacity to over 100 MW by 2010. The money came from its founding shareholders plus several French institutional investors: Crédit Agricole Private Equity, Avenir Entreprises (comprising Caisse des Dépôts et Consignations, Oséo et Natixis) and Grand Sud Ouest Capital. In 2007, the three groups invested EUR 10.5 million in an earlier share issue. As of October, Valorem had installed 130 MW of wind plant in France, of which it retains ownership of just 2.4 MW. The company reports siting permits for nearly 270 MW and 1430 MW under development.

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