Engie has invested in a 329 MW wind farm portfolio in Italy and France with the purchase of renewable energy developer Renvico from Macquarie Infrastructure and Real Assets (MIRA).
Renvico operates 142 MW of onshore wind capacity in Italy. In addition, it owns a 50 per cent stake in a joint venture with KKR in France, representing a further 187 MW of installed onshore capacity.
As part of this transaction, KKR and its co-investors in the French joint venture have also agreed to sell their combined 50 per cent stake to Engie.
Renvico has a further 300 MW development pipeline.
This acquisition will contribute to Engie’s growth ambitions, adding 9 GW worldwide by 2021, of which 3 GW in Europe,” said Gwenaëlle Avice-Huet, Engie’s Executive vice president in charge of Renewable Energy. “In France, this transaction will allow Engie to strengthen its onshore wind leadership, with a 2.1 GW installed capacity at the end of 2018.
“In Italy, Engie will double its onshore wind installed capacity, to reach more than 300 MW. Engie already supplies 100 per cent green electricity for 2.9 million clients in France and 1 million clients in Italy. This new portfolio brings also an additional 300 MW capacity to be developed.
“It’s a corner stone of our ambition to accelerate the zero carbon transition of our clients.”