The Renewables Infrastructure Group acquires French Tille et Venelle onshore wind farm
The Renewables Infrastructure Group Limited
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15:04 26/04/24
The Renewables Infrastructure Group announced on Friday it had acquired the 40MW onshore wind farm in Burgundy (France) Tille et Venelle.
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The project was acquired for €30m from turbine manufacturer and developer Envision Energy and included the construction costs and was net of project level debt financing.
Tille et Venelle was developed by Velocita Energies, a Paris-based Envision Group company, which was managing the construction of the windfarm.
The project, which involved 16 Envision turbines with a capacity of 2.5MW each, was set to become operational during the first quarter of 2020, the company said.
It would also benefit from a 15-year subsidy through an inflation linked Contract for Difference with utility company EDF which fixed the price to be paid for the power, thus eliminating the power price risk for the duration of the subsidy.