RP Global, a developer and power producer, has signed a deal with German insurance group Talanx to sell its France-based three adjacent wind parks with a total capacity of 49.5MW.
Located at Doignies, Moeuvres and Boursies in Nord-Pas-de-Calais region, each of the wind farms consists of five 3.3MW Vestas V112 wind turbines.
The project, which has been implemented, with the construction having started recently, is expected to be completed in the second quarter of 2016.
Under the terms of the deal, the project, on completion will be operated by RP Global which has more than 1,000MW of hydro and wind power projects in seven countries.
RP Global also operates two other wind farms in the country which are 11.5MW Fresnes en Saulnois and Fond Gerome & Mont d’Hezeques.
For the transaction, RP Global was advised by Green Giraffe (finance), Wind Prospect (technical) and CGR Legal (legal).
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By GlobalDataRP Global CFO Jorge Rodriguez said: "With this transaction, Talanx have put their trust in our capabilities, which proves the most reputable investors’ confidence in RP Global. We are now going down a new path, developing projects for companies looking to invest in renewable energy and bringing them to fruition for them.
"Concurrently we will continue to own a solid portfolio ourselves, and keep up Greenfield development while moving also into Brownfield development and investment."
France is the world’s 8th largest wind energy producer, with a total of 9,285MW.
In July, France Energie Eolienne (FEE), an association for wind energy industry professionals, called for speeding up the procedure for awarding construction permits.