Renovalia Energy and First Reserve create new wind energy JV

First Reserve has committed US$150 million to the joint venture. The long-term agreement supports Renovalia Energy’s growth and international expansion plans, allowing it to become one of the leading renewable energy companies in the global market, with a presence in seven countries.

First Reserve identified Renovalia Energy as its partner due to its deep experience in the wind power industry and its broad renewable energy sector platform, as well as its solid financial track record and strong growth potential. During the first nine months of 2011, Renovalia Energy’s EBITDA grew by 27.5% compared to the same period last year, to 76.5 million Euros. Its turnover was 140 million Euros by Q3 2011, compared to 93 million Euros in the same period 2010.