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Greencoat Renewables Agrees to Acquire 65MW Onshore Wind Portfolio in France

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Greencoat Renewables has agreed to acquire a 65MW portfolio of operating wind farms in France from Axpo, Switzerland's largest producer of renewable energy. 
Greencoat Renewables Agrees to Acquire 65MW Onshore Wind Portfolio in France
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The acquisition comprises 4 wind farms, all of which benefit from French government longterm contracts: 

  • The 16MW Arcy-Précy windfarm is located in the Burgundy region of France and consists of eight Vestas V110 turbines. The project was commissioned between September 2021 (12MW) and May 2022 (4MW) 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 in July 2021 and benefits from a government fixed-price contract until June 2041. 
  • The 20.3MW Genonville windfarm is located 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. 

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.

 

 

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