La Compagnie du Vent, a subsidiary of GDF SUEZ Group, and Eurofideme 2, a fund managed by Mirova, have signed a partnership agreement to refinance, own and operate five photovoltaic solar plants in the south of France.
Under this agreement, La Compagnie du Vent will hold a 50.1% interest in the solar plants and Eurofideme will hold 49.9%. The five solar plants will require a total investment of €81.6 million.
La Compagnie du Vent will be responsible for the operation of solar the power plants. Through this partnership, Eurofideme 2 continues its long-term investments in the renewable energy sector.
Pocrured by the Commission for Energy Regulation, the five solar power plants will have an installed capacity of 47 MW and are expected to be commissioned by mid-2015. The faciliteies will produce about 66 million kilowatt hours per year.
For this operation, La Compagnie du Vent was advised by Green Giraffe Energy Bankers and Doria Avocats, while Mirova was advised by De Pardieu Brocas Maffei and Solstyce.
The operation is expected to be closed in the third quarter 2014.
Mirova, which is the Responsible Investment division of Natixis Asset Management, develops an engaged approach aiming to combine value creation and sustainable development. Mirova offers a global responsible investing approach with a unique offering built on 4 pillars: listed equities, infrastructure, Impact investing, voting and engagement.