British/French developer EOLE-RES to go public

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Britain's Renewable Energy Systems (RES) has announced the intended flotation of EOLE-RES, a wind development company in France it owns equally with French research firm Eole Technologie. The decision to go public on the Paris stock exchange is "prompted by favourable new French wind energy tariff regulations" (story page 26). EOLE-RES has seven contracts for 80 MW in its French portfolio under the EOLE 2005 program, which the new tariffs replace, representing 25% of all wind contracts agreed with utility EDF. "The potential energy output, together with EDF's commitment to purchase all of the electricity produced allow wind farm developers to clearly forecast future returns," says EOLE-RES. The flotation is scheduled for the autumn.

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