Italian infrastructure fund F2i and French insurer Credit Agricole Assurances have entered into a partnership to acquire wind farms in Spain.
The duo has agreed to buy a portfolio with a total capacity of 500 MW.
It has been informed that the projects are either in operation or under development. The wind farms are based in northern Spain.
According to the companies, “F2i’s Fund V-Fondo per le Infrastrutture Sostenibili will acquire a 60% stake in the bundle, while the remaining 40% will be bought from Credit Agricole Assurances.” F2i, which is based in Spain, is active in 14 countries.
The duo informed that the portfolio consists of 53 MW of wind farms which have already been commissioned. Meanwhile, remaining 430 MW of projects are in the advanced stages of development.
According to F2i, the new assets will add to 1,200 MW of projects in advanced development in Spain.
“The acquisition of Villar Mir's wind farms complements the solar power activities in one of the most promising renewable energy markets in Europe,” Renato Ravanelli, CEO of F2i, commented.
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