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May 09, 2007
HgCapital Goes For Wind Farming
HgCapital has paid €69M to acquire a French wind farm portfolio from German power producer Enertrag. Bank of Scotland provided leveraged financing. The deal involves four wind farms located in the Picardy region of France. One 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.
With this transaction, HgCapital will be able to produce total power output of over 100MW, which represents investment volume over €150M. HgCapital has also secured the rights to buy further renewable energy projects in Europe, which would produce over 500MW of power output.
HgCapital has also invested in other wind farms including Sorne Wind in Ireland, Tir Mostyn in North Wales and Wind Direct in Cumbria, England.
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Posted on May 9, 2007 05:59 PM | Posted to Alternative Energy | Permalink
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