Industrielle Werke Basel (IWB), the utility servicing the Swiss canton of Basel-Stadt, will own a 30% stake in the vehicle, which will develop and operate wind farms in France, Germany and Italy.
Aix-en-Provence-based Theolia will initially hold the remaining 70%, although it plans to lower its stake to 40% after attracting other utilities. It says discussions regarding this are “ongoing”.
Theolia says the planned €100m of equity investment will allow it to access another €200m in project finance.
“The
