RES is selling two wind farm projects located in the Vienne region of France to funds managed by Octopus.
The first project is the Cerisou wind farm, located in the municipality of Savigné, that will comprise 8 wind turbines with the capacity to generate 24MW.
The second one is the Berceronne wind farm, located in the municipality of Jazeneuil, that will comprise 3 wind turbines with a 9 MW capacity.
The Cerisou and Berceronne projects have been developed by RES since the identification of the sites in 2014. RES conducted all the environmental, landscape and technical studies as well as consultation with the local communities and secured the necessary authorizations for the construction of these two wind farms.
Construction and operation will be carried out by RES on behalf of Octopus. Construction is scheduled to begin in the summer of 2021, with commissioning planned for the third quarter of 2022. The 11 wind turbines supplied by Siemens Gamesa will represent a total installed capacity of 33MW, enough to meet the electricity needs of approximately 20,500 households and will avoid the emission of more than 41,000 tons of CO2 annually.
“These projects mark the sixth acquisition that Octopus has made from RES. We are proud to be able to support Octopus in the diversification of its growing portfolio of renewable assets in Europe and look forward to continuing to develop our wind, solar and energy storage activities alongside such a leader in renewables, committed as we are to a transition towards a zero carbon future.”Jean-François Petit, managing director for RES in France.
“These acquisitions mark our continued expansion into the French wind market, which we have long considered to be a highly attractive destination for investment in renewable energy. We pride ourselves on developing strong relationships with our co-developers and we would like to thank the team at RES for their support across the six deals we have completed with them. We have developed a great working relationship over these last five years, with a shared vision for driving towards a future powered by renewable energy.”Alex Brierley, co-head of Octopus Renewables.
The Cerisou wind farm has been sold to Octopus Renewables Investment Trust Plc (ORIT) and signifies a milestone for ORIT with the full commitment of the company’s IPO proceeds and its first French wind farm acquisition.