TUIC to invest in France wind project

24 October 2011 (Last Updated October 24th, 2011 18:30)

The newly launched Theolia Utilities Investment Company (TUIC) is set to invest in its first wind project in France.

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.