Engie and asset management outfit Conquest have signed a €70m financing agreement for a 43MW onshore wind portfolio in Belgium.
To date, half of the portfolio has been put into operation and the assets which are still under construction will be ready for commercial operation in the first quarter of 2021.
Conquest acquired a majority stake (51%) in the onshore wind portfolio in December 2019.
The portfolio consists of 15 wind turbines, spread across five wind farms in the Flemish region, which is forecast to produce 110 gigawatt-hours of renewable power annually.
To date, Conquest’s global investment portfolio produces around +250GWh of renewable energy each year, representing the annual consumption of over 80 000 homes, and which has avoided over 63 000 tons of CO2 emissions.
Conquest president and founder Frederic Palanque said: “Since its inception, Conquest has been committed to investing and creating value in responsible projects which accelerate the transformation of the economy and essential infrastructure.
“We are particularly proud of this partnership with Engie which began in 2019, with the acquisition of 51% of this portfolio under development, and which seeks to establish trusting relationships and to create new long-term opportunities.
“The collaboration of our teams is a great success. It paves the way to further successes with our European industrial partners on behalf of our investor clients.”