UK utility Octopus Energy Investments has purchased the 18MW Roche Quatre Rivieres wind energy facility in France, signalling the company’s first venture into onshore wind in the country.
The deal, for an as-yet-undisclosed sum was concluded with RES, which developed the project, will also be responsible for construction and asset management at the facility.
New construction is underway and is expected to be completed, and the wind farm in full operation by late-2019.
The purchase represents the third wind farm Octopus has bought from RES, and is the company’s first wind farm acquisition outside of the UK.
Octopus Energy Investments co-head Alex Brierley said: “This acquisition is yet another sizeable addition to our expanding portfolio of European assets.
“The 18MW Roche Quatre Rivieres diversifies our existing set of French renewable energy assets into onshore wind and is just the beginning of our ambitious acquisition plans.
“This will be the
third wind farm we have acquired from RES and it is a real pleasure to continue
working alongside them.”
RES head of project finance and acquisitions in France Alexandre Zanger said: “RES has already established a strong relationship with Octopus, however, this is the first project in France and, having operated in the country for 20 years, RES is perfectly placed to support any expansion ambitions Octopus may have.
“Our desire is to continue to develop our activities in wind, solar and storage alongside players such as Octopus who are committed to a zero-carbon future.”