Canadian company Innergex Renewable Energy has signed an agreement with French family-owned business Vent d’Est to develop wind farms in France.
The partners said they will mainly co-invest in projects in the east of the country, which offers good conditions for renewables projects.
Vent d’Est provides expertise on evaluation, negotiation, training and monitoring of energy projects.
Under the terms of the agreement, Innergex will may contribute to the development of projects and acquire 50% shares when they reach certain unnamed milestones.
The agreement also allows Innergex to acquire 100% interests in the projects when they reach the construction phase.
Innergex chief investment and development officer Jean Trudel said: “France is an important market for Innergex and this agreement will allow us to accelerate our growth.
“The development in France requires several years of hard work and that is why the development efforts of Vent d’Est coupled with our internal capabilities should allow us to develop more projects simultaneously in the coming years.”