Wind group Theolia gets $42m Swiss investment boost

Theolia will be paid as O&M contractor at any wind projects developed with IWB

Theolia

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By Karl-Erik Stromsta London

 Monday, July 18 2011

Updated: Sunday, November 25 2012

Theolia has secured a €30m ($42.1m) commitment from a Swiss utility for a new €100m investment vehicle created by the French wind developer to raise funding for its project pipeline.

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 revenues and advantages generated by this partnership will allow the group to accelerate…

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