The acquisition comprises 4 wind farms, all of which benefit from French government longterm contracts:
The transaction is the company’s second portfolio acquisition in France, as it continues to execute its European growth strategy and follows Greencoat Renewables’ expansion into Spain, Finland, Germany, and Sweden.
Axpo Head of Renewables Christoph Sutter said, “I’m delighted to see that, once again, we were able to sell an attractive portfolio of wind farms which were part of the abundant Volkswind development pipeline in France.
"With the continuing interest from investors in buying wind power plants, this is a great opportunity for Axpo to generate additional income and increase added value from our renewable energies business.”
The transaction is expected to close in the second quarter of 2022.
Bertrand Gautier, Investment Manager said, “This transaction represents a further milestone in Greencoat Renewables’ strategy to increase our 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.
"We look forward to working further with Axpo, a large owner of renewable assets in Europe.”
Since the acquisition of Volkswind in 2015, Axpo has been active in the planning, project development, construction, maintenance, and management of wind farms in France and Germany. As one of Europe’s leading wind energy companies, Axpo’s business strategy combines the retention of an extensive portfolio of wind farms with the sale of others to investors.