First published on the Quoted Cleantech website, September 2010. Copyright Cleantech Investor 2010 

French renewable energy generator Aérowatt has raised €3.1 million through the issue of 288,698 new shares.

The company, whose shares are quoted on NYSE Euronext’s Alternext market for growth businesses, raised the funds as it put a second tranche of investment into projects amounting to 20MW of generating capacity. These projects, designed to meet the electricity needs of 18,500 homes, consists of three wind farms and one photovoltaic plant.

The first project, commissioned during the first half of this year, is the 6MW Balaza wind farm. Two other wind farms, amounting to 13MW between them, are expected to be commissioned in 2011.

Meanwhile, a 1.4MW photovoltaic plant is planned for Béziers and is expected to be commissioned by the end of this year.

Aérowatt is a vertically-integrated developer and operator of renewable energy projects, Having started out in the wind power sector, the company has developed its own solar power engineering unit Héliowatt has collaborated with Apex BP Solar in order to develop photovoltaic projects in France and abroad.

Shares in Aérowatt, €13.03 each at the time of writing, have kept their value, trading around the same level that they started September. They have been as high as €15.55 each this year.

Market: Alternext

Symbol: ALWAT

Price: €13.03

12 month high/low: €15.55/€10.50

Market cap: €25.2m