Casablanca, 20 September 2007 - Theolia SA (Eurolist B: TEO) announced today the official launch of its subsidiary Theolia Emerging Markets, which develops renewable energy systems and which will operate exclusively in emerging markets.
The new company will operate in the following regions: The Maghreb (starting with Morocco), Sub Saharan Africa, India, South America and Eastern Europe, and be based in Casablanca, Morocco.
Theolia will hold 51% of this new entity. The remaining 49% will be reserved for institutional investors, corporations and international financial institutions.
Theolia Emerging Markets will consist of four wholly-owned subsidiaries:
- Theolia Wind Power Pvt Ltd (India)
- Theolia CEE (Central and Eastern Europe)
- Theolia South America (Brazil)
- Theolia Morocco
The subsidiaries will manage all phases of a project: prospecting, development or acquisition of assets, construction, and operation. Each subsidiary will have a dedicated team to manage both organic growth and external acquisitions.
Jean-Marie Santander, CEO of Theolia said: "The creation of Theolia Emerging Markets will allow Theolia and its shareholders to take full advantage of the increasing demand for renewable power in some of the world’s fastest growing economies. Theolia and its subsidiaries and partners are the ideal team to deliver renewable power in emerging markets. Theolia Emerging Markets aims to have an installed capacity of 600MW by 2011."
As at 20 September 2007, THEOLIA Emerging Markets’ portfolio is as follows:
|Projected organic growth||Acquisitions
|Central and Eastern EUROPE||156MW||103MW|
THEOLIA is a leading European independent producer of renewable energies. THEOLIA’s activity spans development, construction and operation of wind farms. THEOLIA operates in France, Germany, Spain, Italy, Greece, Eastern Europe as well as India and Brazil. THEOLIA is listed on the Paris (Eurolist B) under the mnemonic TEO.
For any further information
Tel: +33 (0)4 42 904 904
Société anonyme à Conseil d'Administration. ¤38 235 117
Headquarters : Parc de la Duranne - 860 rue René Descartes
Les Pléiades Bât F - 13795 Aix en Provence cedex 3
Tel : + 33 (0)4 42 904 904 - Fax : + 33 (0)4 42 904 905 - www.theolia.com
THEOLIA trades on Eurolist B, Euronext Paris under the mnemonic: TEO © Copyright Actusnews Wire
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