Greencoat Renewables acquire 51.9MW of wind capacity in FranceChristian Fernsby ▼ | March 23, 2020
Greencoat Renewables announced an agreement to acquire a portfolio of operating wind assets in France from John Laing Group for a total consideration of 30.3 million euros.
Wind industry Greencoat Renewables
Topics: Greencoat Renewables wind France
Following the acquisition, Greencoat Renewables' total installed capacity base will increase to 528.1MW.
The acquisition will mark the company's first investment in the continental European renewable energy market.
The assets will benefit from France's stable and supportive tariff regime which guarantees a fixed price for the electricity produced by the asset.
All assets will benefit for fixed price Feed in Tariff ("FIT") with a weighted average remaining FIT of 12.3 years.
The acquisition will close following French regulatory approval and will be funded by the Company's EUR380 million credit facility.
Following the acquisition, Greencoat Renewables' total borrowings will represent 43%  of Gross Asset Value. ■