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Italian independent power producer ERG SpA (BIT:ERG) has wrapped up the acquisition of a 73.2-MW solar and wind portfolio in France, shortly after announcing the deal at the end of December.
French renewables company Q Energy said last week that the agreement is now closed, with ERG taking over its two operational solar farms with a combined capacity of 20.4 MWp, one 28.8-MWp solar project under construction, and a fully repowered 24-MW wind farm.
These assets are held by CEPE Renouvellement Haut Cabardes SAS, a company that ERG bought in a deal with an enterprise value of around EUR 86 million (USD 94.1m) and an equity value of some EUR 17 million.
As previously announced, the wind farm and the two operational solar farms benefit from a tariff regime supported by a 20-year contract-for-difference. The solar project under construction has a 15-year power purchase agreement (PPA) set up with a “leading French retail company”, Q Energy said.
(EUR 1.0 = USD 1.094)
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