Theolia Utilities Investment Co welcomes new shareholder

Oct 25, 2011 - Theolia Utilities Investment Co, an investment vehicle created by French wind power group Theolia (EPA:TEO), has welcomed a new shareholder, German utility Badenova.
Following the current deal, Theolia holds 40% in the investment vehicle, Badenova has a 30% stake and Swiss power group IWB Industrielle Werke Basel also holds 30%.
The agreement is subject to the approval of German competition authorities.
The current cross-border partnership brings together three European energy players with the aim to jointly develop and operate onshore wind farms in France, Germany and Italy.
The objective of Theolia Utilities Investment Co is to reach a total wind capacity of 150-200 MW.
The investment vehicle is already working on its first wind project investment in northern France.

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