Theolia stock rallies on major Moroccan deal

(ADPnews) - Jun 1, 2011 - Shares in French wind projects developer Theolia (EPA:TEO) jumped on Wednesday on Euronext Paris following the announcement of a major deal in Morocco.
At 1553 CET, Theolia had gained 6.87% to EUR 1.40 on the bourse.
Earlier today, the company said it had signed an agreement with Moroccan electricity company Office National de l'Electricite (ONE) for the joint development and construction of a 300 MW wind farm near Tangier. The project will consist of two stages -- the launch of the first 100-MW phase is scheduled for June 2012.
Morocco possesses significant wind resources and has demonstrated a strong political will to promote renewable energy, Theolia pointed out in its press release.
(EUR 1.0 = USD 1.442)

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