Swiss Axpo acquires stake in 100MW wind farms in France

Oct 14, 2013 - Swiss utility Axpo Holding AG said today it has acquired a 49% stake in nine wind farms with a total capacity of 100 MW in France from EDP Renewables, a unit of Portuguese green power company EDP Renovaveis (ELI:EDPR).

The financial details of the deal and the names of the wind farms were not disclosed. The acquisition is currently awaiting approval by the authorities, the company said.

The wind farm portfolio consist of 48 turbines at nine locations. They produce 230 GWh of electricity annually, enough to power 51,000 households. EDP Renewables remains the major shareholder of the farms with a 51% stake.

The acquisition is an important step toward the expansion of Axpo's onshore wind power portfolio, CEO Heinz Karrer said. Axpo currently has around 160 MW of installed onshore wind capacity. The company is operating a total of 2 GW of wind energy in Europe, Axpo added.

EDP Renewables entered the wind power market in France in 2005 through the acquisition of several projects under development. The company is currently the fourth largest wind power operator in the country with a total installed capacity of 306 MW.

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