Investment firm Glennmont Partners has closed the acquisition of three operating wind farms in France.
Glennmont has purchased wind farms with a combined capacity of 25 MW in the Nord region, which has some of France's strongest wind resources. The deal brings the firm's French wind portfolio to over 100 MW.
Glennmont has signed a power purchase agreement with EDF for the output of the three wind farms, which will benefit from France's feed-in tariff regime. It has also signed long-term operation and maintenance agreements covering the projects and has secured long-term, non-recourse project financing.
The wind farms have capacities of 11 MW, 8 MW and 6 MW.
Glennmont manages over 190 MW of onshore wind capacity in France, Ireland, Italy and the UK. Peter Dickson, Partner and Technical Director of Glennmont, said: "France is a core market for us, and we continue to look for opportunities to acquire well-developed projects across the country."
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