The newly launched Theolia Utilities Investment Company (TUIC) is set to invest in its first wind project in France.
The partnership is a joint initiative between European utility firms IWB Industrielle Werke Basel (IWB), Badenova and France-based Theolia to develop and operate onshore wind farms in Europe.
The company plans to develop onshore wind farms in France, Germany and Italy with a total investment of €300m and a wind capacity of 150-200MW.
Theolia holds a 40% stake and IWB and Badenova each hold a 30% interest in the partnership, which is currently awaiting approval from the German competition authorities.
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