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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