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THEOLIA : THEOLIA and Repower Produzione Italia spa sign agreement for the sale of a 39% stake in a 30 MW wind project in Italy
Aix en Provence, April 29, 2010
THEOLIA and Repower Produzione Italia spa sign agreement for the sale of a 39% stake in a 30 MW wind project in Italy
Maestrale Green Energy, THEOLIA's Italian subsidiary, and Repower Produzione Italia spa, a wholly owned entity of Repower, signed an agreement on April 28, 2010 for the sale of a 39% stake in the 30 megawatt (MW) wind project in the province of Enna (Sicily - Italy). 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 project includes 35 Vestas 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 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.
For more information
Edward F. McDonnell
Tel: +33 (0)4 42 906 594
Tel: + 33 (0)6 09 04 80 11
French Société Anonyme (public limited company with Board of Directors) with share capital of €40,308,707
Registered office: 75 rue Denis Papin BP 80199 - 13795 Aix-en-Provence cedex 3 - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment B of Euronext Paris, code: TEOInformation réglementée
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