Paris, December 2023 - Astris congratulates its client Q ENERGY France (formerly RES France), a leading French developer fully owned by Hanwha Solutions, for the successful sale of a 73.2MW solar PV and wind portfolio (the “Portfolio”) composed of 4 projects located in France. The Portfolio has been acquired by ERG, a leading Italian independent renewable energy producer.
The Portfolio encompasses two operational solar PV farms with a combined installed capacity of 20.4 MWp, a 28.8 MWp solar PV project under construction and a 24 MW wind farm in the final phase of commissioning, following a recent repowering. The total annual estimated energy production of the portfolio stands at around 125 GWh, or the equivalent of 64 kilotons of CO2 emissions avoided.
The two PV plants in operation and the wind farm benefit from a tariff regime supported by a 20-year CfD (contract for difference), while the production of the third solar project will be sold under a 15-year PPA with a leading French retail company. All Portfolio assets will be selling their production on the spot market for a period of up to 18 months from COD before the CfD’s kick in, pursuant to the Emergency Measures announced by the French Government in the course of the summer 2022.
Astris Finance acted as exclusive financial advisor to Q ENERGY France – an engagement that followed the debt raising advisory mandate for the Portfolio successfully closed in May 2023. This achievement further demonstrates Astris’ premier position in the European renewable energy M&A market where Astris is currently handling 11 transactions across 5 countries.