Natixis fund invests EUR 15m in French green power producer Vol-V - report

(ADPnews) - Nov 26, 2010 - French renewable energy generation company Vol-V has opened its capital to a fund of Natixis Environnement & Infrastructures, raising EUR 15 million (USD 20m) to finance business development.

The Eurofideme 2 fund has bought bonds convertible into shares of Vol-V, French daily La Tribune reported today.

"Vol-V has good prospects for mid-term business development. The company's founders are already clients of our Fideme fund and enjoy a proved track-record in the renewable energy business," Raphael Lance, director of Eurofideme 2 was quoted as saying.

With offices in Montpellier, Rouen and Rennes, Vol-V has a EUR 75 million business development plan for electricity generation from wind, solar and biomass sources. The company has a wind project portfolio of 160 MW, of which 50 MW are in operation or at an advanced development stage. It plans to invest EUR 45 million in wind power business by the end of 2011. In solar, Vol-V specialises in building-integrated and rooftop photovoltaics. That business is seen to install 10 MW, absorbing EUR 30 million in investments, by the end of 2012.
At present, Vol-V has a staff of 20, which it hopes to raise to 65 in 2013. The company expects to close 2010 with a turnover of EUR 2 million.

(EUR 1.0 = USD 1.324)

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