January 28 (Renewables Now) - Banque des Territoires, part of France's Groupe Caisse des Depots, has agreed to acquire a 50% stake in Total Quadran’s 143-MW portfolio of solar and wind energy assets in France.
Total Quadran, which is the French renewable power production unit of Total SA (EPA:FP), announced the transaction on Tuesday, saying that it values 100% of the said portfolio at EUR 300 million (USD 330.6m).
“The entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with our renewables development business model, aiming to achieve over 10% return on equity,” said Philippe Sauquet, president of gas, renewables and power at Total.
The portfolio in question comprises 11 wind farms totalling 96 MW and 35 solar power plants with a cumulative capacity of 47 MW. Following the transaction involving Banque des Territoires, Total Quadran will pursue further development of renewable energy projects in France, the announcement says.
(EUR 1.0 = USD 1.102)