Greencoat Renewables has purchased a portfolio of wind farms in France from John Laing Group, marking the company’s first investment in continental Europe.
The €30.3 million ($32.5 million) deal will add 51.9 megawatts of operating capacity to its portfolio, bringing it to 528.1 megawatts of installed capacity, according to Business Green.
The assets consist of a 20-megawatt wind farm in the Burgundy region, a 21.6-megawatt wind farm in the Picardy region, and a 10.3-megawatt wind farm located in Saint-Martin-l’Ars.
“The assets benefit from France’s stable regulatory regime, with the fixed-price feed-in-tariff guaranteeing power prices for the next 12.3 years,” said Bertrand Gautier, Greencoat Renewables investment manager. “Our existing portfolio already has 97 percent of its cashflows contracted under REFIT until Jan. 1, 2028, and this acquisition further extends the proportion and duration of our fixed-price revenues.”
The purc
