THÉOLIA
THÉOLIA: Theolia Group Strategic Reorganisation Sees Non-Wind Assets Transferred To 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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7 December 2006
Theolia Group Strategic Reorganisation Sees Non-Wind Assets Transferred To
Theolia Benelux
Theolia SA, the France-based renewable energy company, has announced that
it is to transfer its non-wind assets (biomass, CHP, biogas and solar) to a
wholly-owned subsidiary, Theolia Benelux. This will allow Theolia SA to
fully concentrate its resources on wind energy production and give greater
autonomy to Theolia Benelux.
The assets to be transferred to Theolia Benelux include:
– Solar energy development projects in Spain with a future capacity
of 20MW
– Biomass and biogas development projects in Italy, including the
construction by 2010 of six units each of 3 to 5 MW with a total
capacity of approximately 20MW
– Two French ‘peaking units’ (16MW) under contract with EDF until
2010 and 2011
Jean-Marie Santander, CEO of Theolia, said: ‘We will continue to lead the
growth of our global wind assets from our base in France while our
Belgium-based colleagues deploy their considerable expertise in developing
and acquiring assets in other renewable power sectors such as biomass and
solar. I am confident that with this strategic re-organisation we will
accelerate the Group’s growth, differentiate ourselves from other market
players and create value for our shareholders.’
Theolia Benelux meanwhile announced that it has taken a 51% stake in the
Dutch CHP and biogas specialist, Polargen. This transaction has been fully
financed by Theolia SA.
Jacques Putzeys, President of Theolia Benelux, said: ‘This acquisition is
an example of the strategic focus that the re-organisation brings. I am
confident in the ability of the Theolia Benelux team to grow our assets so
that like our parent company, Theolia SA, we will become a major
pan-European renewable energy company.’
Established in 2003 and based in ‘t Harde, Holland, Polargen constructs and
operates CHP plants (total capacity 23MWe) primarily for greenhouse
agribusinesses. Polargen’s turnover is based on heat and electricity sales,
and green certificates through its biogas production unit.
By end 2007, Polargen plans to build a further nine plants in Benelux with
an installed capacity of 25 MWe. With the 9MWe currently managed by Theolia
Benelux, this will give a total capacity of 57MWe.
Theolia Benelux (formerly Energo) and Polargen have worked in partnership
to develop CHP projects since 2004. Together they plan to build on their
complementary skills in Benelux, Italy and Germany to reach 200 MWe by
2010.
NB: MWe means MW of electricity. CHP production combines MWe and MWth
(heat).
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About Theolia
Theolia is a leading independent developer of wind farms in France with a
growing presence in renewable energy production in Europe. Listed on
Euronext Paris (Eurolist B) under the code TEO, Theolia opened its first
wind park in France in January 2006, at Fonds de Fresne in the Somme
region. It has an installed capacity of 10MW. Theolia aims to reach an
installed capacity of 250MW by the end of 2007 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 13,500MW of wind
capacity by 2010.
For more information
Jean-Marie Santander
CEO
Tél : + 33 (0)4 42 904 904
jean-marie.santander@theolia.com
Graham Fairbank
Communications Director
Tél : +33 (0)4 42 904 904
graham.fairbank@theolia.com
THEOLIA
Société anonyme à Conseil d’Administration.
Registered capital 20.399,813 €
Head office : Parc de La Duranne – 860, rue René Descartes
Les Pléiades Bât F – 13795 Aix-en-Provence cedex 3
Tel : +33 (0)4 42 904 904 – Fax : +33 (0)4 42 904 905 – www.theolia.com
THEOLIA is listed on Eurolist B, Euronext Paris, code: TEO
(c)DGAP 07.12.2006
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