PARIS, May 15 (Reuters) - French wind power company Theolia (TEO.PA: Quote, Profile, Research) reported more than doubled first-quarter sales on Thursday, helped by investments and acquisitions to increase its electricity generation capacity.

Sales rose to 41.19 million euros ($63.7 million) from 19.39 million in the first quarter of 2007, said Theolia, which, like rivals EDF Energies Nouvelles (EEN.PA: Quote, Profile, Research) and Iberdrola Renovables (IBR.MC: Quote, Profile, Research) is benefiting from a European drive to cut carbon emissions.

Theolia, which is the target of regular takeover rumours, confirmed it expected revenue of between 370 million euros and 400 million and earnings before interest, tax, depreciation and amortisation of 55 million to 65 million euros in 2008.

Theolia shares closed at 23.75 euros on Wednesday, up nearly 18 percent since the start of the year.