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07.12.2006 » Pressrelease » Wind Energy
THEOLIA set to acquire major
Theolia, the France-based renewable energy company, announced today the
strengthening of its European wind power activities with the imminent agreement to
acquire 100% of Natenco GmbH, a major private European wind energy developer
and operator, which is based in Germany.
18 October 2006
Natenco’s primary focus is to develop, build and operate turnkey wind projects for third parties. Theolia will benefit from Natenco’s undisputed expertise in this area. In addition, Natenco has its own wind farm asset base of 25MW in France and Germany.
Theolia CEO Jean-Marie Santander said: "Theolia has found in Natenco a partner who shares similar goals in terms of national and international growth. Natenco offers Theolia a broader European foundation, combined with long term international visibility. Theolia's turnover will be boosted by Natenco‘s turnkey sales activities, its management of over 140MW and electricity sales from its wind farms."
Mr Willi Balz, Founder and President of Natenco, said: "Renewable energy demand
is increasing worldwide. This market offers very exciting opportunities. Only with a strong partner will Natenco’s strong management and staff be able to benefit from these opportunities. Theolia is the right partner for us - a partner who brings
invaluable complementary industrial and geographical expertise. Together, we will be able to accelerate project development in Europe and worldwide. While in the German market, we will continue to offer our investors wind farm projects of the highest quality."
Theolia and Natenco offer complementary business models. Theolia’s model focuses
on development, construction, and operation of wind parks for its own account. Natenco undertakes similar activities but principally for third parties. On the strength of Natenco’s accounts, this acquisition will allow Theolia to accelerate the growth and structure of its existing business model while substantially increasing its turnover and earnings thanks to third party activities. Natenco has a capital of EUR 5M, equity of EUR 25M and a cash position of over
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