ERG buys 152.4 MW of renewables in France, Germany

Wind turbine. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

October 5 (Renewables Now) - Local subsidiaries of Italian energy company ERG SpA (BIT:ERG) are acquiring a 152.4-MW operational wind and solar portfolio in France and Germany.

The transaction involves the acquisition of 100% of the capital of 15 companies that hold the assets in the portfolio for an enterprise value of EUR 202 million (USD 235m), the Italian firm said on Monday.

The portfolio includes seven photovoltaic (PV) and three wind farms across France, totalling 56.7 MW and 40.6 MW, respectively. In Germany, ERG has bought five wind farms with a combined capacity of 55.1 MW. The facilities were switched on between 2013 and 2015.

Overall, the portfolio has an estimated annual production of 273 GWh and benefits from an incentivised tariff system with an average expiry date of 2032, ERG pointed out in the press release.

The assets in question are managed by KGAL and are being bought from a German pension fund.

(EUR 1.0 = USD 1.164)

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