Theolia and IWB launch investment vehicle Theolia Utilities Investment Company

Aix-en-Provence, France

Acccording to Theolia the two partners intend to create Theolia Utilities Investment Company, an investment vehicle dedicated to invest in wind projects in France, Germany and Italy. This vehicle is set aside for utilities, producers and distributors of electricity, willing to commit themselves for the long term and sharing the same vision of the development potential of wind energy and the imminent rebalancing of the energy mix in favor of green energies.

With a final target of 100 million euros of equity invested, combined with project financing, the vehicle shall be in a position to invest more than 300 million euros.

IWB is the first partner to join the vehicle with an interest of 30%. At the creation, Theolia will hold 70% of Theolia Utilities Investment Company and its target is to hold a 40% interest at the end. Discussions are ongoing with other utilities willing to join the vehicle.

Source: IWR Online, 18 Jul 2011