Renewable energy investor Greencoat Renewables has agreed a deal to buy a portfolio of operating wind assets in France from John Laing Group for €30.3m.
The purchase marks its first investment in the continental European renewable energy market.
The French portfolio of three windfarms come with 16-year long term fixed rate project finance and have an overall net enterprise value of €95m.
Greencoat Renewables' total installed capacity base will increase to 528.1MW after the deal.
The new portfolio comprises a site at Passilly - a 20.0MW wind farm commissioned in September 2016 consisting of 10 Gamesa 2.0MW turbines and which is located in the Burgundy region of France.
It also includes a site at Sommette, a 21.6MW wind farm commissioned in December 2017 which is made up of nine Nordex 2.4MW turbines and which is in the Picardy region.
The third site is at St Martin, a 10.3MW wind farm commissioned in June 2018 and which consists of five Senvion 2.05MW turbines, located in Saint-Martin-l'Ars.