ERG completes French deal for 750-MW wind pipeline

Italian energy company ERG SpA (BIT:ERG) on Monday said it has finalised the previously announced acquisition of certain wind farms and a roughly 750-MW pipeline in France from Impax New Energy Investors II.

ERG is now the owner of Parc Eolien du Melier SAS, Parc Eolien de la Vallee de Torfou SAS and Epuron Energies Renouvelables SAS. The first two firms are the respective owners of wind farms of 8 MW and 18 MW, each backed by 2014 feed-in tariffs (FiTs) for 15 years. Epuron Energies Renouvelables, in turn, owns the Wave I, Wave II and Wave III portfolios of projects that are in different stages of development.

When announcing the deal in April, ERG said that it was to buy the trio for an enterprise value of EUR 57 million (USD 67m). There is also a EUR-5-million earn-out mechanism in favour of the seller.

The buyer noted on Monday that its installed capacity in France will reach 330 MW by the end of the year.

(EUR 1.0 = USD 1.181)

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