France: FUTUREN obtains permission to build its largest wind farm in France

Following a first tranche of 4 wind turbines authorized in 2013, this expansion will bring the total capacity of the two tranches to about 48 MW.

FUTUREN actively pursues its development. In France, the Group now holds 4 wind projects which already received all necessary authorizations and are free of any third-party claim, for a total capacity of 87 MW:

• the 18 MW Chemin Perré wind project is currently under construction in the Aube department. Its commissioning is planned for the second half of 2016;
• the first tranche of the 13 MW Les Monts wind project, also located in the Aube department, will be under construction in the coming weeks, for a commissioning expected at the end of 2016;
• the construction of the 21 MW Courant-Nachamps wind project should start between the end of 2016 and the beginning of 2017 in the Charente-Maritime department, for a commissioning expected in early 2018; and
• the full authorization for the second tranche of Les Monts project, for a capacity of c. 35 MW.

Operating 732 MW of wind power for own account and on behalf of third parties, FUTUREN holds 197 MW of projects having obtained all authorizations needed for their installation and operation, distributed mainly in France and Morocco.

Commenting on this news, Fady Khallouf, Chief Executive Officer of FUTUREN, said:

"This new authorization fully reflects our growth momentum. Since the success of our financial restructuring in late 2014, we have significantly accelerated our development. In just one year's time, we commissioned a 21 MW wind farm, launched the construction of an 18 MW wind farm and now we obtain a permit for 35 additional MW.

All our efforts are concentrated on increasing our installed capacity. Over the coming twelve months, we plan to launch construction works for two new projects with a combined capacity of 34 MW. We handle growth at constant structure cost. Thus each new commissioning of wind farm increases our profitability. We are on track to reach our target to double our installed capacity for own account in France and Morocco in the short-term."