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Gaz de France to acquire French wind farm operator Erelia
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PARIS (Thomson Financial) – Gaz de France has acquired 95 pct in French wind farm operator Erelia for an undisclosed amount, the French gas and electricity utility said.
GDF bought the stake from Erelia founder and chairman Francois Pelissier, and will acquire the remaining 5 pct now held by Erelia employees in two years, Pelissier said.
Erelia expects to make revenue this year of 16 mln-17 mln eur, Pelissier said at a news conference to present GDF’s wind farm strategy.
Pelissier said he was selling the company to GDF in order to ensure sufficient financial backing to support Erelia’s future growth. Erelia aims to increase its wind power generating capacity to 360 MW by 2011, up from 70 MW this year.
Henri Ducre, head of GDF’s Energie France division, said the acquisition brings GDF’s total wind power generating capacity to 110 MW. GDF aims to generate 20 pct of its total electricity from renewable sources by 2012, including 2,000 MW from wind farms.
By the end of the decade, GDF aims to earn revenue of between 50 mln and 60 mln eur from wind power, said Olivier Lecointe, head of GDF’s electricity division.
10.09.07
tfn.paris@thomson.com
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