Renewable infrastructure company Greencoat Renewables has agreed a deal to buy a 65MW portfolio of operating wind farms in France from Axpo, Switzerland's largest producer of renewable energy.
Today's deal is the company's second portfolio acquisition in France, as it continues to execute its European growth strategy.
It also follows Greencoat Renewables' expansion into Spain, Finland, Germany and Sweden.
The deal is expected to close in the second quarter of this year.
Today's deal comprises four wind farms, all of which benefit from French government long-term contracts.
The 16MW Arcy-Précy windfarm is in the Burgundy region of France and consists of eight Vestas V110 turbines. The project was commissioned between September 2021 and May 2022 and benefits from a government fixed-price contract until August 2041.
The 9.4MW Butte de Menonville windfarm is located in the Centre Val-de-Loire region of France and consists of four Enercon E92 turbines. The project was commissioned last July and benefits from a government fixed-price contract until June 2041.
The 20.3MW Genonville windfarm is sited in the Centre Val-de-Loire region of France and consists of six Nordex N117 turbines. The project was commissioned in March 2022 and benefits from a government fixed-price contract until February 2042.
The 19.8MW Grande Pièce windfarm is located in the Centre Val-de-Loire region of France and consists of six Vestas V112 turbines. The project was commissioned between August 2017 and October 2018 and benefits from a government fixed-price contract until August 2032.
Bertrand Gautier, Greencoat's Investment Manager, said the transaction represents a further milestone in Greencoat Renewables' strategy to increase its position in the French renewables market, which provides an opportunity to secure long-term contracted renewable energy assets.
France will now represent 12% of the Greencoat Renewables portfolio, he added.
