Wind Power

Wind Farms Flourishing in Flanders Fields

Through its subsidiary Electrabel, Green Projects Flanders Electrabel announced ý 1 million (US$1.25 million) bond issue as part of it’s policy to diversify its power generation assets through increasingly involvement in the development of renewable energy. The company is involved with hydropower in France and is currently developing several wind power projects in France, Italy, the Iberian Peninsula and Belgium.

Brussels, Belgium – February 5, 2004 [SolarAccess.com] Through its subsidiary Electrabel, Green Projects Flanders Electrabel announced € 1 million (US$1.25 million) bond issue as part of it’s policy to diversify its power generation assets through increasingly involvement in the development of renewable energy. The company is involved with hydropower in France and is currently developing several wind power projects in France, Italy, the Iberian Peninsula and Belgium. One of Electrabel’s current projects in Flanders concerns the construction of two 2 MW wind farms at Wondelgem, six 2 MW wind farms at Hoogstraten, and two 850 kW wind farms at Hooglede. According to Electrabel, the company placed these new bonds with the public to offer people the opportunity to participate in its green energy projects (power generated from renewable sources such as wind, biomass, solar energy and cogeneration). Investors will not only enjoy attractive return but will also be contributing to sustainable development alongside an energy company with strong presence in Europe. This bond issue is aimed in particular at people living in the municipalities where the wind farms are being developed, giving them the opportunity to invest in green projects in their own area and thus increasing the level of local involvement. Priority will be given to subscriptions from local investors (citizens of Wondelgem, Hoogstraten and Hooglede). In the Electrabel Green Projects Flanders bond issue issue, backed by the subsidiary Electrabel, the issue price is € 250 (US$313) per bond, or 100 prercent of the face value. The 4.15 percent interest rate is fixed over the 5-year life of the bonds. Subscriptions can be made at Dexia Bank from February 2 to February 13, 2004 (subject to anticipated closing). The payment date is February 18, 2004.