Macquarie Infrastructure and Real Assets has reached an agreement to sell its interest in Italian onshore wind developer Renvico to Engie for an undisclosed price.
Renvico has 142MW of installed onshore wind capacity in Italy and owns a 50% stake in a joint venture with KKR in France, representing a further 187MW of installed onshore wind capacity.
As part of the deal, KKR and its co-investors have also agreed to sell their combined 50% interest to Engie.
Renvico also has a pipeline of more than 300MW under development.
Macquarie acquired Renvico, previously known as Sorgenia Green, through its Macquarie European Infrastructure Fund 4.
Macquarie Infrastructure and Real Assets EMEA head Leigh Harrison said: “During MEIF4’s period of investment, Renvico has cemented its reputation as a major player in the European renewables sector – supporting Italy and France as both countries transition to a more sustainable energy mix.
“We are delighted to have played a role in Renvico’s growth story and to have found a new owner who will oversee its continued development.”