German authorities have approved the entry of Badenova into THEOLIA Utilities Investment Company

The German competition authorities have approved the agreement, concluded on October 21^st, 2011, through which Badenova joins THEOLIA Utilities Investment Company.

Once formalities are fulfilled, THEOLIA will hold 40% of THEOLIA Utilities Investment Company, and IWB and Badenova 30% each.

THEOLIA Utilities Investment Company is now able to invest in its first wind project.

About THEOLIA Utilities Investment Company

Created in August 2011, THEOLIA Utilities Investment Company is a joint vehicle dedicated to invest in wind projects in France, Germany and Italy. It brings together three European energy players: THEOLIA, a French developer and operator of wind farms, and two major European utilities, IWB in Switzerland and Badenova in Germany. The objective of the vehicle is to reach a total wind capacity of 150 to 200 MW. With a final target of 100 million euros of equity invested, combined with project financing, the vehicle will be in a position to invest more than 300 million euros.

About THEOLIA

THEOLIA is an independent producer of wind energy, active over the entire wind value chain. The Group develops, builds and operates wind farms in four main countries: France, Germany, Italy and Morocco. In total, the Group operates 896 MW for its own account and for third parties.

CONTACT

THEOLIA

French Société anonyme (public limited company with Board of Directors) with share capital of €127,591,147

Registered office: 75 rue Denis Papin – BP 80199 - 13795 Aix-en-Provence Cedex 3 - France

Tel: +33 (0)4 42 904 904 – Fax: +33 (0)4 42 904 905 - www.theolia.com

THEOLIA is listed on the compartment C of Euronext Paris, code: TEO

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