Following two years of the wind farm’s commissioning, Repower Produzione Italia spa can exercise a call option for THEOLIA’s remaining 51% stake during a 6 month period.
The wind farm includes 35 Vestas wind turbines installed during the past six months. Project financing was announced in January 2010 and its commissioning is expected by the summer of 2010, for a total estimated annual production of 52 GWh.
The parties agreed not to disclose the price of the transaction.
Carlo Durante, CEO of Maestrale Green Energy, said that this sale confirms Maestrale Green Energy’s capacity to build a solid cooperation with a major energy player in Italy.
THEOLIA and Dortmunder Energie- und Wasserversorgung GmbH sign agreement for the sale of a 55.5 MW wind farm in Germany
Dortmunder Energie- und Wasserversorgung GmbH (“DEW21”, Dortmund, Germany) and THEOLIA (Aix-en-Provence, France) signed an agreement for the sale of an operational 55.5 MW wind farm located in the federal state of Saxony-Anhalt in Germany. The wind farm, in operation since early 2006, includes 37 1.5 MW turbines and a high voltage line.
The sale is made by THEOLIA’s Germany subsidiary, THEOLIA Naturenergien GmbH, which will provide full technical and commercial management for the life of the wind farm. The parties agreed not to disclose the price of the transaction.
Eric Peugeot, Chairman and CEO of THEOLIA, said: “This sale further confirms the capacity of THEOLIA to deliver high quality operational wind assets to interested buyers. Furthermore, we are happy to add such an established company as DEW21 to our growing list of clients who entrust the long term operational management of their wind assets to our team.”
“With this deal we belong to the top group of the German municipal energy utilities which are engaged in wind power with their own capacities”, said Dr. Frank Brinkmann, CEO of DEW21. “We take our responsibility for climate protection seriously. With this investment in wind power we like to prove that. Through our wind power capacities, DEW21 is contributing to a lasting reduction of carbon-dioxide emissions in an amount of 68,000 tons per year.”
This transaction is subject to permission from the German Bundeskartellamt (Federal Merger Office).
THEOLIA is an independent international developer and operator of wind energy projects. THEOLIA is active primarily in France, Germany and Italy, and also in India, Brazil and Morocco. THEOLIA trades on the compartment B of Euronext Paris, regulated market of NYSE Euronext, under the symbol TEO. The THEOLIA stock is part of in the CAC Small 90 index.