September 12 (Renewables Now) - EDF Renewables, a subsidiary of French power utility EDF (EPA:EDF), said today it has acquired a 300-MW portfolio of under-development onshore wind projects in Germany from local renewables group Altus AG.
The projects part of the particular portfolio are currently at various stages of the development process, with land lease contracts already in place and environmental studies ongoing. EDF said it will closely collaborate with Altus during the development of the schemes up to the construction phase.
The French group explained the acquisition is in line with its strategy to develop, build and own renewables assets in Germany, where it already has more than 580 MW of wind parks in operation. “This new step in the country also fits the EDF Group’s CAP 2030 strategy aimed at doubling its renewable capacity, both in France and worldwide between 2015 and 2030,” added Frederic Belloy, executive vice president international operations at EDF Renewables.
To be located in 10 different German states, the proposed wind parks are scheduled for completion during the next five years. Once it obtains the needed permits, EDF will seek to secure 20-year power purchase agreements (PPAs) for the projects in the German government’s auctions for wind energy.