Subscribe free to our newsletters via your
  Energy News  

Subscribe free to our newsletters via your

French EDF Wind-Power IPO Zooms

File photo: Paris Stock Exchange.
by Staff Writers
Paris (AFP) Nov 29, 2006
Shares in a French wind-power company were launched here on Wednesday and gained 19.0 percent in the first hour of trading, driven by "enormous" investor interest, dealers said. The company being floated was EDF EN, an offshoot of the French electricity group Electricite de France (EDF), the biggest generator of nuclear power in the world.

The shares were launched at 28.0 euros each and soon shot up to 33.32 euros, showing a gain of 19.0 percent and valuing the business at 2.0 billion euros (2.64 billion dollars) or six times sales.

EDF EN generates 78 percent of its business in the sector of wind power, which is growing strongly.

One stock trader at an independent broker commented: "The wind-power sector is very promising as is shown by the fact that big players are counting firmly on renewable energy."

Wind-driven generators in France will produce 1,500 megawatts at the end of this year from 757 MW at the end of last year, the head of the French agency for the environment and conservation of energy (Ademe), Michele Pappalardo said at a conference in the northern town of Amiens on November 16.

This year would be the second year in a row in which French wind-generating capacity had doubled.

A stock trader at a leading European bank commented: "The EDF subsidiary has few competitiors in its area of activity, so it is a good investment.

"The appetite of investors is enormous. However, the valuation (of the company) is high."

EDF EN, created in 1990, specialises in renewable energy and also works on energy technology in the fields of hydraulics, biomass and solar power.

In 2005 it achieved sales of 336.2 million euros and earnings before interest, tax, depreciation and amortisation of 62.3 million euros.

Source: Agence France-Presse

Email This Article
Comment On This Article

Related Links
Electricite de France
Powering The World in the 21st Century at
Powering The World in the 21st Century at

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Sakhalin-2 Consortium To Face Series Of Penalties
Moscow (AFP) Nov 29, 2006
The international consortium developing the Sakhalin-2 oil and gas project in eastern Russia should prepare for a range of economic penalties over feared environmental damage, Russian Natural Resources Minister Yury Trutnev warned on Wednesday. "The economic sanctions which will be imposed without fail will not be just fines but a package of economic measures," the minister said according to news agency ITAR-TASS.

  • DRS Receives Contract To Develop High-Speed Electric Generator For The USN
  • Scientists Solve Mystery of How Largest Cellular Motor Protein Powers Movement
  • French EDF Wind-Power IPO Zooms
  • Last LHC Superconducting Main Magnet Completes The Suite At CERN

  • Dwindling Forests And Resources Force Africa To Mull Nuclear Energy
  • Iran Offers To Share Nuclear Know-How With Algeria
  • Russia Could Help Build NPP In Egypt
  • Russia's OMZ, Czech Research Center To Jointly Upgrade Reactors

  • Increase In Carbon Dioxide Emissions Accelerating
  • Researchers Gaze At Cloud Formations
  • France To Create Coal Tax, Tighten Pollution Measures
  • Phytoplankton Cloud Dance

  • Report Outlines Funding To Conserve Half Of Massachusetts's Land
  • Trees Reversing Skinhead Earth May Aid Global Climate
  • Danish Christmas Tree Shortage Threatens Prices Across Europe
  • Ancestor of Modern Trees Preserves Record Of Ancient Climate Change

  • Japan Ready For Cut In Indian Ocean Tuna Catch
  • Wheat Gene May Boost Foods' Nutrient Content
  • Scandal, Drought Slash Australian Wheat Exporter AWB Profit 68 Percent
  • EU Snags Deal On Deep Sea Fish Catches

  • EPRI, Argonne To Assess Commercial Viability Of Plug-In Hybrid Electric Vehicles
  • London Blazes Anti-Pollution Trail With Vehicle Congestion Charge
  • BMW To Launch First New Hydrogen-Powered Model
  • Portable Solar-Powered Tag Readers Could Improve Traffic Management

  • DLR And EUROCONTROL Create Joint Total Airport Management Concept
  • Aviation Industry Alarmed At New EU Emission Rules
  • Technologies Evaluated For The Future National Airspace System
  • Silent Aircraft Readies For Take-Off

  • Could NASA Get To Pluto Faster? Space Expert Says Yes - By Thinking Nuclear
  • NASA plans to send new robot to Jupiter
  • Los Alamos Hopes To Lead New Era Of Nuclear Space Tranportion With Jovian Mission
  • Boeing Selects Leader for Nuclear Space Systems Program

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement