Theolia, the France-based renewable energy company, has announced the strengthening of its European wind power activities with the imminent agreement to acquire 100 per cent of Natenco GmbH, a major private European wind energy developer and operator, which is based in Germany.
Natenco’s primary focus is to develop, build and operate turnkey wind projects for third parties. In addition, Natenco has its own wind farm asset base of 25MW in France and Germany. Theolia and Natenco offer complementary business models. Theolia’s model focuses on development, construction, and operation of wind parks for its own account. Natenco undertakes similar activities but principally for third parties. On the strength of Natenco’s accounts (below), this acquisition will allow Theolia to accelerate the growth and structure of its existing business model while substantially increasing its turnover and earnings thanks to third party activities. Natenco has a capital of € 5 million, equity of € 25 million and a cash position of over € 40 million.