Engie lifts interest in Goya wind project in Spain to 66%

Energy company Engie has increased its interest in the Goya wind project in Spain to 66% with the acquisition of Mirova’s 51% stake.

The Goya project includes seven wind farms in Aguilon, Azuara, Herrera de los Navarros and Fuendetodos, which have been in operation since 2020 and have a total power capacity of 194MW.

For its initial investment, Mirova’s energy transition fund, Mirova Eurofideme (MEF) 3, secured co-investors from Rgreen Invest’s Infragreen III fund, Rive Private Investment’s Etraph Finance fund, and Apres Demain. In October last year, the project secured refinancing from the corporate and investment banking arm of Mirova’s parent Natixis.

The stake sale marks the last exit of MEF 3.

Loreto Ordóñez, CEO of Engie in Spain, said: “For us, the Goya project is emblematic because it has demonstrated the commitment and interest of the group in the Spanish energy sector, by promoting a long-term project that allows the generation of clean energy.

“With the acquisition of the stake held until now by Mirova, Engie increases its ambition and commitment to actively contribute to the construction of a future in which energy is cleaner, more sustainable and more affordable. for all.”

Raphael Lance, the head of energy transition funds of Mirova, said: “The Goya project was a landmark transaction for Mirova Eurofideme 3 as being the first project developed by Forestalia under the new Spanish tender regime of 2016. It took a lot of dedication, creativity and energy from our investment team, industrial and financial partners to make it happen.

“We are pleased with this new transaction with Engie, a longstanding partner of Mirova whom we have worked with on many wind, solar, and hydroelectric projects across Europe.”

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