Theolia plummets after revealing mounting losses in first-half

Theolia has lost half its value on the Euronext Paris exchange in the past year

JACQUES BRINON/AP/Press Association Images

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By Karl-Erik Stromsta

 Friday, September 03 2010

Updated: Friday, December 21 2012

Beleaguered French wind developer Theolia’s share price retreated as much as 12% after announcing mounting losses in the first half of 2010, and acknowledging it hopes to find new investors to move its project pipeline forward.

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…

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