In July Theolia managed to drum up €60.4m ($77.6m) through a new rights issue – far short of the €100m it sought, but enough to stave off bankruptcy in the short term.
At the time chief executive Fady Khallouf – appointed in May after a string of management shake-ups – claimed the new capital would allow the company to put the brakes on the fire sale of its wind assets.
Theolia nevertheless divested 60MW of capacity in Germany during the first half of the year, lowering its total wind capacity to 267MW, compared to 421MW at the same point last year.
Theolia
