Lancashire County Pension Fund has agreed to take a minority stake in EDF Energies Nouvelles 500MW Portuguese wind assets.
LCPF chief investment officer Mike Jensen said: “LCPF is very enthusiastic about the perspective to become the long term strategic partner of EDF Energies Nouvelles in Portugal and looks forward to developing and strengthening this partnership in the future.
“LCPF is looking for reliable long-term income yields to match its long-term liabilities and, in this context, we believe that this acquisition fully fits the fund’s strategy.”
EDF EN senior vice president, strategy and M&A Nicolas Couderc said: “This strong partnership with Lancashire County Pension Fund is an integral part of EDF Energies Nouvelles’ growth strategy. It conveys our ambition to seize opportunities together in renewable energy on the Portuguese market.”
LCPF has been advised by Santander Corporate & Investment Banking (France & Portugal) and Uría Menéndez – Proença De Carvalho.
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