Press releases

Energiequelle (Kallinchen, Germany) and THEOLIA (Aix en Provence, France) closed the sale of 32 megawatts of wind projects in France.

The portfolio consists of 3 wind farms located in the northeastern part of France, detailed as follows:

-          Baudignecourt (Meuse), 12 MW under construction, 

-          Charmois (Meuse), 12 MW fully permitted,

-          Chermisey (Vosges), 8 MW fully permitted.

The bulding permits are free of claims. The three projects are expected to be commissioned by the end of 2010.

The parties agreed not to disclose the price of the transaction.

Marc van't Noordende, CEO of THEOLIA, said: “This sale represents a new step forward in our program to sell approximately 200 MW of wind projects and assets. After the recently announced agreement to sell 100 MW in Germany, this demonstrates that THEOLIA's turn-around strategy is on track.”

Joachim Uecker, CEO of Energiequelle said: “The acquisition of the wind portfolio clearly shows Energiquelle's entry into the French market was a move into the right direction. We are very confident that these three wind farms are just the beginning of a further co-operation with THEOLIA and also an excellent basis of establishing Energiequelle in the French market.”

Energiequelle was advised by FarWind Energy (Copenhagen), Clifford Chance and Taj (Paris).

About THEOLIA

THEOLIA is an international developer and operator of wind energy projects. THEOLIA is active in France, Germany, Italy, India, Brazil and Morocco. THEOLIA trades on the compartment B of Euronext Paris, regulated market of NYSE Euronext, under the symbol TEO. The stock is in the CAC MID100 index.

About Energiequelle

Energiequelle GmbH is one of Germany's leading project developers in the area of wind-energy, photovoltaic and biogas. Energiequelle's primary fields of activity are the acquisition, planning, turnkey installation as well as technical & commercial management of projects for third parties and own use.