On May 21, 2019, FUTUREN bought the minority stakes of Badenova and IWB in Theolia Utilities Investment Company ("TUIC"), an investment vehicle focusing on the acquisition and operation of large wind farms, mainly in France. The reasons for the purchase are due to varying views on the strategic direction of TUIC.
TUIC was founded in 2011 to buy, build and operate wind projects. FUTUREN held 40% of TUIC, Badenova and IWB 30% each. The partners originally set the target size for the first five years at an installed capacity of up to 150 MW. TUIC today is involved in four wind farms in France, for a cumulative installed capacity of about 68 MW.
About FUTUREN
FUTUREN is a group active in the field of wind energy, present throughout the entire wind value chain. The Group develops, builds and owns wind farms in four countries: France, Germany, Morocco and Italy. In total, the Group manages 648 MW for its own account and for third parties.
CONTACT
| Elodie Fiorini Group Chief Financial Officer | Tél: +33 (0)4 42 906 596 e.fiorini@futuren-group.com |
French Société anonyme (public limited company with Board of Directors) with a share capital of €27,777,658.70
Registered office: Cœur Défense - 100, esplanade du Général de Gaulle - 92932 Paris La Défense - France
Administrative address: Europarc de Pichaury - Bât. B9 - 1330, avenue JRGG de la Lauzière - BP 80199 - 13795 Aix-en-Provence Cedex 3 - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.futuren-group.com
The stock is listed on the compartment B of Euronext Paris, symbol: FTRN.
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