Saturday, June 17, 2006

Theolia Announces Acquisition of 58 MW Spanish Wind Farm

Theolia SA, the France-based European renewable energy producer, announced today the acquisition of a 58 MW wind farm project in Almeria, Spain.

The project represents an investment of approximately 75 million Euros, 20% of which will be financed directly by Theolia Iberica in which Theolia SA has an 80% stake. The balance will come from bank loans.

Jean-Marie Santander, CEO of Theolia said: “The establishment of Theolia Iberica underlines our determination to become a major pan-European player in renewable energy production. We have further renewable energy projects in the pipeline in Southern Europe and are therefore confident of fulfilling our targets for 2007, to the benefit of our shareholders.”

Theolia plans to begin construction of the Almeria farm in July 2006 and to complete by the third quarter of 2007.

Theolia Iberica has also acquired a 50% stake in Asset Electrica, owner of a 200 MW junction cable, which is linked to the network. The cable capacity ensures connection access for Theolia Iberica’s own production, as well as that of other producers. In Spain, the law relating to renewable energies (Royal decree RD436/2004), determines the purchase tariffs for renewable electricity for a duration of 20 years.


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