ERG Acquires French 73.2-MW Wind, Solar Portfolio

ERG, an Italian independent power producer, has reached an agreement to acquire a 73.2-MW portfolio of wind and solar projects in France. The transaction carries an enterprise value of EUR 86 million and an equity value of EUR 17 million. The portfolio consists of two operational solar farms with a total capacity of 20.4 MWp, a 28.8-MWp solar project in an advanced stage of construction, and a 24-MW wind farm that is in the final phase of commissioning. All projects benefit from either a 20-year contract-for-difference or a 15-year PPA. The transaction is expected to close by January 2024. This deal further cements ERG's presence in France, its second largest market in Europe, where it has achieved a total installed capacity of 674 MW, of which 20% are from photovoltaic energy.