AEROWATT : Aérowatt completes first acquisition in mainland France
Ingré, July 7th, 2008 - On 4 July 2008, Aérowatt completed the acquisition of a 66% stake in VALECO-SPE from SPEPCO, a subsidiary of the SPE group, the 2nd largest energy producer and supplier in Belgium. Aérowatt thus completes its first acquisition in mainland France.
VALECO-SPE is currently in the process of constructing a wind farm with an installed capacity of 12 MW in the Haute-Loire. The commissioning is scheduled for Q4 08. VALECO-SPE is also developing a further project in the Aude department, for which a building permit was filed in October 2007. The teams of Aérowatt and VALECO GROUP will work together to finalise the development of this wind farm and consider future opportunities.
According to Jérôme Billerey, Chairman of the Management Board : "We take the confidence demonstrated by SPE as a strong proof of our professionalism; we are determined to pursue our efforts to grow the company and reach our targets".
Erick Gay, Chairman of VALECO GROUP, commented: "The common values shared by Valeco and Aérowatt proved key to make this partnership possible".
ISIN code FR0010396119
Independent producer of green energy from renewable sources both in mainland France and in overseas territories, Aérowatt handles all the stages in the development of a power plant, from site selection to electricity generation.
Owner and operator of 21 wind farms representing 57 MW as well as of 11 solar farms representing 1,5 MWp at the end of 2007, Aérowatt has a project portfolio of over 1,260 MW which will enable it to operate, for its own account, 350 MW in wind power and 50 MWp in solar energy by end-2013.
In 2007, Aérowatt generated sales of €7.1m, up 57% from 2006, and had 33 employees, of which 15 are dedicated to project development.
SPE-Luminus is the second largest energy producer and supplier in Belgium: the group represents almost 10% of the national electricity production and has a client base of more than 1.5 million people. SPE operates electricity plants, windmill parks, hydropower plants and biomass and biogas installations at 21 sites in Flanders and Wallonia.
About VALECO GROUP
A French independent energy generation company since 1988, the VALECO GROUP operates on every step of the project development process (studies, financing, construction, power generation and operations and maintenance) from various energy sources (wind, photovoltaics, cogeneration and biomass).
+33 (0)2 38 88 64 64
+33 (0)1 53 67 36 36
+32 (0)475 801 705
Erick Gay / Catherine Soler
04 67 40 74 00
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