Futuren takes full control of French wind co TUIC

Magremont wind farm by Futuren. All rights reserved.

May 23 (Renewables Now) - French wind power producer Futuren SA (EPA:FTRN) today said it now controls 100% of investment vehicle Theolia Utilities Investment Co (TUIC), which owns 68 MW of wind assets in France.

Set up in 2011, TUIC is involved in the acquisition, construction and operation of wind projects, mostly in France. Futuren previously owned 40% of the entity, while German utility Badenova and Swiss IWB held 30% each. Futuren has purchased its partners’ stakes after certain contradictions regarding TUIC’s strategic direction, it said in a statement.

Financial details were not disclosed.

TUIC had an original goal to build an up to 150-MW portfolio of wind assets in the first five years after its set-up. The investment vehicle's current installed capacity of 68 MW comes from four French wind parks.

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