Italian outfit ERG is expanding its operations in France with the acquisition from Impax New Energy Investors of two wind farms totalling 26MW and developer Epuron, which has a project pipeline of about 750MW.
The €57m deal includes the 18MW Vallee de Torfou wind farm, which is expected to come online by the end of the year, and the 8MW Melier project, operational since November 2016.
The Epuron pipeline consists of five projects totalling 101MW that are at an advanced stage of development as part of the Wave 1 complex. They are expected to be online in the second half of 2021.
Epuron's Wave 2 plan comprises a further five wind farms totalling 143MW, which are at an intermediate stage of development. They are scheduled to be operational in the second half of 2022.
A further 500MW of early-stage projects make up Wave 3, with operational dates planned for some time after 2022.
The Epuron deal also includes 12 staff at offices in Paris and Nantes.
ERG said some €17m of project financing for the deal was still outstanding as of 31 December 2017.
The deal is expected to close in the second quarter of this year, subject to certain conditions including bank approval for the outstanding project financing.