Greencoat Renewables has reached an agreement to acquire a 65MW portfolio of operating wind farms in France from Swiss renewable energy producer Axpo.
The acquisition comprises four wind farms, all of which benefit from French government long-term contracts and is expected to close this quarter.
The 16MW Arcy-Précy wind farm is located in the Burgundy region of France and consists of eight Vestas V110 turbines.
The project was commissioned between September 2021 (12MW) and May 2022 (4MW) and benefits from a government fixed-price contract until August 2041.
The 9.4MW Butte de Menonville wind farm is located in the Centre Val-de-Loire region of France and consists of four Enercon E92 turbines.
The project was commissioned in July 2021 and benefits from a government fixed-price contract until June 2041.
The 20.3MW Genonville wind farm is located in the Centre Val-de-Loire region of France and consists of six Nordex N117 turbines.
The project was commissioned in March 2022 and benefits from a government fixed-price contract until February 2042.
The 19.8MW Grande Pièce wind farm is located in the Centre Val-de-Loire region of France and consists of six Vestas V112 turbines.
The project was commissioned between August 2017 and October 2018 and benefits from a government fixed-price contract until August 2032.
The transaction is Greencoat Renewables’ second portfolio acquisition in France, as it continues to execute its European growth strategy.
The deal follows Greencoat Renewables’ expansion into Spain, Finland, Germany, and Sweden.
Greencoat Renewables investment manager Bertrand Gautier said: “This transaction represents a further milestone in Greencoat Renewables’ strategy to increase our position in the French renewables market, which provides an opportunity to secure long-term contracted renewable energy assets.
“France will now represent 12% of the Greencoat Renewables portfolio.”