HgCapital buys wind farms

HgCapital, has paid €69m for a French wind farm portfolio from Germany’s Enertrag, an independent power producer, wind farm developer and operator.

The transaction, which brings HgCapital’s European energy assets under management to over £1bn in value, involves four wind farms located in the Picardy region of France. One of the wind farms is already in operation, with the other three to be built over the next year. As part of the deal, Enertrag will operate and maintain the wind farms for 20 years.

HgCapital was advised by Vinson & Elkins, Jeantet & Associates, Deloitte and Touche and Wind Prospect. Bank of Scotland provided debt. HgCapital invested from its Hg Renewable Power Partners fund, which has also acquired Sorne Wind in Ireland, Tir Mostyn in North Wales and Wind Direct/Workington Energy in England.