Impax Asset Management has sold 206MW of French and German onshore wind to ERG Renew.
The London-based investor announced on Wednesday that the move is part of its plans to sell off assets acquired between 2010 and 2014. The majority of the wind farms sold were constructed under the ownership of the fund.
Part of Italy’s ERG Group, ERG Renew has acquired 11 wind farms in France with an installed capacity of 124MW and six in Germany totalling 82MW as part of the deal.
The sale also includes two companies that give operational and commercial technical assistance to “captive” and third-party wind power operators in France, Germany and Poland.
Impax managing director Daniel von Preyss said: “We are pleased to complete this sale which is a significant part of our current disposal programme of the fund. The sale of this portfolio is the result of our three year roll-up and construction process.”
The fund still owns a French wind project development business which it aims to grow in size through construction and acquisitions in the coming years.
The terms of the deal have not been disclosed.
Image: Wind farm turbines (Morguefile)
