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Theolia completes acquisition of the Compagnie Eolienne du Détroit with an output of 50.4MW in Morocco   (2008/01/08 5:45 PM)

THEOLIA confirmed on 4 January 2008 its acquisition of the Compagnie Eolienne du Détroit (CED) from the majority shareholder EDF International. The initial agreement, signed in September 2007, was subject to conditions precedent, which have all now been lifted. THEOLIA has paid a total of €42.5m to give it 100% of the share capital of CED.

Based in Tétouan, in the north of Morocco, the Compagnie Eolienne du Détroit owns the largest installed wind farm in North Africa. It comprises 84 turbines, with a total installed capacity of 50.4MW and produces around 190 GWh per year. A team of 10 has been managing the wind farm since 2000.

Jean-Marie Santander, CEO of THEOLIA commented:  ‘THEOLIA's acquisition of the Compagnie Eolienne du Détroit underlines our strategy in Morocco and North Africa. The farm is ideally located producing around 3,800 hours of full load hours. Theolia will use its expertise to further optimise this wind farm, and encourage greater use of alternative energy in Morocco. This wind farm will be a show-case for emerging markets.'

THEOLIA Group's wind energy portfolio as at 31 December  2007

Wind farms in operation for own account 333.5 MW
Wind farms in operation for third parties 297.25 MW
Wind farms under construction 125 MW
Wind farms with building permits obtained 169.2 MW
Wind farms with building permits pending 851.7 MW
Wind farms under development 1,294.65 MW
Wind farms in process of acquisition 259.2 MW
PORTFOLIO TOTAL 3,330.5 MW

 

THEOLIA is a leading European electricity producer from renewable energy. The Group operates France, Germany, Spain, Greece, Italy and, via its subsidiary Theolia Emerging Markets, in a range of emerging markets including India, Brazil, some of Eastern Europe and Morocco.
THEOLIA is quoted on section B of Euronext Paris, under the mnemonic TEO.  The shares have been on the SBF Index since 24 September 2007 and on the NEXT 150 Index since 2 January 2008.

For further information please contact :
Dolores Muniz
Directeur de la Communication
Tél : +33 (0)4 42 904 904
dolores.muniz@theolia.com

 

THEOLIA
Société anonyme à Conseil d'Administration au capital de 38 643 671 €
Headquarters: Parc de la Duranne – 860 rue René Descartes
Les Pléiades Bât F – 13795 Aix en Provence cedex 3
Tél : + 33 (0)4 42 904 904 – Fax : + 33 (0)4 42 904 905 – www.theolia.com
THEOLIA is quoted on Eurolist B of Euronext Paris under the mnemonic: TEO
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