Greencoat Renewables has completed the acquisition of a 52MW portfolio of wind farms in France.
The Irish investor said the deal for three wind farms, its first outside Ireland, marks the company’s strategic expansion into Europe.
The sites were acquired from John Laing Group for just over €30m. Included are the 20MW Passilly project in the Burgundy region, 21.6MW Sommette in Picardy and 10.3MW St Martin in Saint-Martin-L’Ars.
The wind farms were commissioned between 2016 and 2018 and all are backed by fixed priced contracts averaging a remaining 12.3 years.
Investment manager Bertrand Gautier said: “We are very pleased to take ownership of this excellent portfolio, which demonstrates one of our key strategies of seeking value on the continent.
“Whilst Ireland remains our core market, through our deep relationships with a range of major counterparties we are seeing a high volume of attractive opportunities in the very large secondary markets of our target European geographies.”