ERG Wind France 1 SAS, a subsidiary of ERG Renew, has signed a facility agreement on a non-recourse portfolio project finance basis for the six wind farms owned by its subsidiaries located in France.
The parks, with a total installed capacity of 63.4 MW, are the following:
The wind farms entered into operation between 2005 and 2008 and they were acquired by ERG Renew on 27 July 2015 from four French companies ultimately owned by Macquarie European Infrastructure Fund, which is managed by the Macquarie Group. The value of the acquisition, in terms of enterprise value, was approximately €72 million (US$79.8 million).
The financing, for an amount of €42 million (US$46.6 million) and a tenor of 9.5 years, has been signed by UniCredit Bank AG acting as a lender and as Mandated Lead Arranger (MLA).
The wind farms' annual average output is estimated at around 150 GWh, corresponding to approximately 2,300 equivalent hours.