Greencoat Renewables acquires four windfarms in France

Move is part of wider European expansion strategy

Greencoat Renewables has agreed to acquire a portfolio of windfarms in France that will see it add 65MW to its installed capacity.

The four wind farms are currently owned by Swiss renewable energy company Axpo, and have long-term contracts with the French governments.

The 16MW Arcy-Précy windfarm in the Burgundy region has a fixed-price contract until August 2041, while the contract on the 9.4MW Butte de Menonville windfarm in the Centre Val-de-Loire region runs until June 2041.

The contracts on the 19.8MW Grande Pièce and the 20.3MW Genonville windfarms, both in the Centre Val-de-Loire region, will run until 2032 and 2042 respectively.

The deal, which is expected to close in the second quarter of the year, will see Greencoat’s total installed capacity rise to 1,079MW.

This is the second portfolio acquisition in France for Greencoat, and is part of the company's European growth strategy that has seen it expand into Spain, Finland, Germany and Sweden.

"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," said Bertrand Gautier, investment manager with Greencoat.

“France will now represent 12 per cent of the Greencoat Renewables portfolio.”

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist