FRENCH POWER GIANT BUYING WIND

As wind energy becomes a more completely recognized source of energy to utilities like GDF, its developers continue to be absorbed by the power-hungry giants.

Gaz de France invests in Erelia wind power
Doris Leblond, October 15, 2007 (Oil & Gas Journal)
and
Gaz de France to acquire French wind farm operator Erelia
October 9, 2007 (AFX News Limited via Forbes)

WHO
Gaz de France (GDF) (Henri Ducre, GDF Energie France head), Erelia (Francois Pelissier, founder/CEO)

The wind energy industry is booming in Europe. (click to enlarge)

WHAT
GDF purchased 95% of Erelia, a wind farm builder/operator.

WHEN
- The purchase was announced October 15 and will be finalized in the fourth quarter of 2007.
- GDF is aiming for 2000 megawatts of wind energy by 2012.

WHERE
Erelia operates wind farms in northeastern France.

WHY
- Erelia owns 70 megawatts of wind energy. GDF’s purchase brings its total wind energy ownership to 110 megawatts. Its goal of 2000 megawatts will be partially served by Erelia’s planned development of 360 megawatts in the next 4 years.
- The remaining 5% of Erelia is employee-owned and GDF expects to acquire it over the next 2 years.
- Erelia expects revenues of 16 to 17 million euros for 2007.

France has untapped wind energy potential. (click to enlarge)

QUOTES
- Olivier Lecointe, GDF electricity division head: “By the end of the decade, GDF aims to earn revenue of between 50 million and 60 million euros from wind power…”
- Pelissier, on why he is selling Erelia “…in order to ensure sufficient financial backing to support Erelia's future growth…”