CenterCut: Theolia Sells French Wind Power Assets To Boralex

Tuesday, December 29, 2009

Theolia Sells French Wind Power Assets To Boralex

The Wall Street Journal - PARIS (Dow Jones)--French wind energy company Theolia SA (TEO.FR) Tuesday said it has sold wind power assets in France with a capacity of 47 megawatts to Canada's Boralex Inc. (BLX.T).

Financial details of the transaction weren't disclosed. The assets include a seven-megawatt wind farm in operation since December 2006, as well as two wind projects with capacities of 30 megawatts and 10 megawatts respectively.

The commissioning of both wind projects, which will be built by Theolia, is expected by mid-2010, the company said. Theolia added that it expects to exceed its target to sell 200 megawatts of wind projects and assets in 2009 following this deal.

Earlier Tuesday, Theolia reached a debt deal with its main bondholders, including a project for a capital increase of up to EUR100 million, in a move to reduce its debt and to ensure funding for its projects. Theolia shares closed down EUR0.21, or 6.5%, at EUR3.03.

Company Web site: http://www.theolia.com/

By Elena Berton, Dow Jones Newswires; +33 1 40 17 17 65; elena.berton@dowjones.com

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CenterCut - Alternative Energy & Sustainability

Centercut tracks the political implications of policy, tax subsidies, and direct grants on alternative energy and sustainability projects worldwide.

We review articles and scientific journals the world over to discern emerging and replacement technologies, political trends and the occational intellectual cul-de-sac.

In a world under severe stress all systems require new thinking. It is imperative that sustainability and alternative energy become mantras for creative destruction and cascading innovation. Small incremental advances will 'ripple' across our fragile orb in waves of change unimagined.

Blog Editor: Richard L. Wottrich

CenterCut = Center of Gravity

The greatest challenges in life are gifts that force us to search for a new center of gravity.

Einstein said, “The most beautiful thing we can experience is the mysterious. It is the source of all true art and science.” But the mysterious absent wisdom is noise, just as knowledge absent experience is irrelevance.

We are either a marvelous human race celebrating the ascendancy of humanity, science and technology, or we are the miscreants who have created a dysfunctional world under severe stress. Our blessing is that we still have a choice.

Richard L. Wottrich

Centercut Definitions

Alternative Energy - Energy Systems derived from sources that do not deplete irreplaceable natural resources or harm the environment.

Sustainability - The ability to maintain balance of a certain process or state in any system, especially related to the depletion of world energy and water resources at a rate that cannot be replaced.

Stakeholders - The end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of a completed project.