Solairedirect agrees sale of 35-MW solar portfolio in France

The asset management arm of the Conquest Group has signed a final deal to buy a 35-MW solar portfolio in France from Solairedirect, a unit of local utility Engie SA (EPA:ENGI).

Luxembourg-headquartered Conquest Asset Management will buy six solar photovoltaic (PV) parks in the southern part of the country. The assets have power purchase agreements (PPAs) in place with EDF SA (EPA:EDF), each with a term of up to 20 years.

The financial terms of the agreement were not provided.

The asset manager seeks to build and operate one of the largest infrastructure investment platforms in Europe, including ready-to-build and operating real assets in OECD (Organisation for Economic Co-operation and Development) countries. Recently, it announced the completion of the first close of its renewable power fund with tier 1 European institutional investors.

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