A Mighty Wind: Eolia Sets IPO

To compete with big utilities, Spain's eco-energy darling is going public to grab as many small and midsize wind power outfits as it can

Don't accuse Spanish entrepreneur Miguel Salis of tilting at windmills. He co-founded Jazztel (JAZ.BE), a telecom startup that had the audacity to take on home market champion Telefónica (TEF). Now he is tackling Spain's national utility giants with an ambitious, independent, wind and solar power company that's scheduled to go public on the Madrid exchange this year with a $1 billion valuation.

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