ERG Eolienne France to Acquire 75% Stake in Two Wind Farms in France from Vent d'Est for USD15.2 Million

Published: Oct 11 2017
Deal Summary

ERG Eolienne France SAS, a subsidiary of ERG SpA, has agreed to acquire 75% equity interest in Parc Eolienne de la Voie Sacree SAS, and Parc Eolienne d'Epense SAS, owners of two wind farms situated in France, from Vent d'Est, an electric utility company, for a purchase consideration of EUR12.9 million (USD15.2 million). The combined installed capacity of the plants is 16.25 MW. The transaction will imply a deal value of USD1.2 million per MW.

Parc Eolienne de la Voie Sacree wind farm has an installed capacity of 12 MW. The wind farm is operational since 2007. Parc Eolienne d'Epense wind farm has an installed capacity of 4.25 MW. The wind farm is operational since 2005.

ERG Eolienne France also entered into a co-development agreement with Vent d'Est regarding an early-stage pipeline of projects totaling around 300 MW again located in France, in areas characterized by very strong winds.

The closing of the transaction is expected by December 31, 2017, and is subject to inter alia to waiver by the minority shareholder of pre-emption rights.

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