Greencoat Renewables is buying a 65MW onshore wind portfolio in France from Axpo for an undisclosed sum.

The renewable energy infrastructure investor said it has agreed to buy the portfolio of four wind farms, all of which benefit from French government long-term contracts.

The portfolio includes the 16MW Arcy-Précy windfarm in the Burgundy region, the 9.4MW Butte de Menonville windfarm in the Centre Val-de-Loire region, the 20.3MW Genonville windfarm in the Centre Val-de-Loire region and the 19.8MW Grande Pièce windfarm in the Centre Val-de-Loire region.

Bertrand Gautier, a partner at Greencoat Capital, the investment manager, said the transaction represents a further milestone in Greencoat Renewables’ strategy to increase its position in the French renewables market, which provides an “opportunity to secure long-term contracted renewable energy assets”.

Greencoat Renewables marked its entry into continental Europe’s energy market with the acquisition of a portfolio of operating wind assets in France in March 2020.

The latest transaction represents Greencoat Renewables’ second portfolio acquisition in France, as it continues to execute its European growth strategy and follows the company’s expansion into Spain, Finland, Germany, and Sweden.

Gautier said France will now represent 12% of the Greencoat Renewables portfolio.

To read the latest edition of the latest IPE Real Assets magazine click here.