THÉOLIA
Theolia Takes Majority Stake in Belgian Cogeneration Company, Energo, to Form Theolia Benelux
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Theolia Takes Majority Stake in Belgian Cogeneration Company, Energo, to
Form Theolia Benelux
Acquisition Confirms Theolia’s Commitment to European Renewable Energy
Expansion
March 16, 2006
The Theolia Group, the French renewable energy company listed on the
Euronext Marche Libre (MLTEO), has acquired a majority stake in Energo, the
Belgian cogenerator. Energo shareholders agreed on 24th February to issue a
2.2 million Euro increase in capital reserved for Theolia, allowing Theolia
to take a 56.67% in the Belgian company, which will now be known as Theolia
Benelux. Existing Energo shareholders will retain 37.77% in the new
company. Amsterdam Effectenkantor (AEK), the Dutch financial group, takes a
5.56% stake.
Jean-Marie Santander, Theolia CEO, said the acquisition reinforces
Theolia’s commitment to renewable generation across Europe. “The creation
of Theolia Benelux allows the Theolia Group to take further advantage of
the tremendous opportunities to invest in and develop renewable power
projects across Europe.”
“The management has set itself the goal of continuing to create value for
shareholders through implementing our strategy of becoming a leading
European producer of electricity from renewable energy,” he added.
Theolia Benelux’s objectives are threefold:
– To generate electricity using renewable energy sources (wind and biogas),
thereby earning green certificates.
– To generate electricity and heat simultaneously (cogeneration), thereby
earning cogeneration certificates.
– To intensify trading in electricity and in green and cogeneration
certificates.
As of 31st December 2005, the installed capacity of Theolia Benelux was 6.8
MWe, generating turnover of €4.14m. By 31 July 2006 the installed
electrical capacity should reach 9.25 MWe, equivalent to 44.70GWh.
The key figures for the various Theolia Benelux power stations (as of
December 31st 2005) are as follows:
– The Biocogen plant (Dendermonde, Belgium), commissioned in September
2004, has an installed capacity of 1.4MWe and generates 11.6GWh.
– The Merkplas plant (Belgium), the first phase of which was commissioned
in September 2004, has an installed capacity of 1.7MWe and generates
9.95GWh.
– The Boechout plant (Belgium), the first phase of which was commissioned
in July 2005, has an installed capacity of 3.7MWe and generates 12.8GWh.
– The second phase of the Merkplas plant (Belgium) will be commissioned in
June 2006, with an installed capacity of 1.05MWe, equivalent to generation
of 5.35GWh.
– The second phase of the Boechout plant (Belgium) will be commissioned in
July 2006, with an installed capacity of 1.4MWe, equivalent to generation
of 5GWh.
As of 31st December 2005, Theolia Benelux’s gross fixed investment came to
4.0 million Euros, shareholders’ equity totalled 1.2 million Euros and
financial debt 3.0 million Euros. Theolia Benelux’s EBITDA came to
-17,100 Euros
Notes to editors
On March 1st Theolia announced it had raised 25 million Euros in a share
issue, 99% of which was taken up by existing shareholders. The share issue
was three times oversubscribed, demonstrating the appeal of renewable
energy. As stated in the issue prospectus, a further 30 milllion Euros is
expected to be raised shortly in an exclusive share issue to the Dutch
asset management company, Go Capital Asset Management B.V, following a
Theolia EGM next month.
Theolia opened its first wind park in France in January 2005, at Fonds de
Fresne in the Somme region. It has an installed capacity of 10MW.
Currently, almost 60MW of additional capacity is under construction and/or
awaiting financing in the following French locations: Morbihan, Somme,
Calvados and Aveyron.
Theolia aims to reach an installed capacity of 100MW by the end of 2006 and
to build an additional 150MW per year until 2010.
France is a fast growing market for wind energy. The French government has
set a target of installing 10,000MW of wind capacity by 2010.
On March 7th Theolia announced that it had hived off its waste management
assets to the Swiss company Granit SA, whilst retaining a 60% stake.
Press Enquiries
Caroline Barraclough
Carbon International caroline.barraclough@carboninternational.com
+ 44 (0) 207 586 6641
Candida Jones
Carbon International candida.jones@carboninternational.com
+ 44 (0) 207 586 6641
(c)DGAP 16.03.2006
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language: English
emitter: THEOLIA
1025 rue René Descartes
13799 AIX-EN-PROVENCE CEDEX 3 Frankreich
phone: + 33 4 42 904 909
fax: + 33 4 42 904 905
email: philippe.perret@theolia.com
WWW: www.theolia.com
ISIN: FR0000184814
WKN: A0B550
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, München; Open Market in
Frankfurt
End of News DGAP News-Service
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