Octopus Renewables enters deal with SamSung Securities for 119.5 MW solar porfolio in France
Octopus Renewables Infrastructure Trust plc has signed a Share Purchase Agreement (SPA) for the acquisition of a 100% interest in a portfolio of operational solar PV assets located across France for a cash consideration of EUR58.9 million (US$69.38 million).
The portfolio consists of 14 fully operational solar PV assets with a total installed capacity of 119.5MW which all benefit from feed-in-tariffs (FiT) under the French 2011 Tariff Order and 2011 Call for Tenders regimes for 100% of their output. The assets began operating between 2013 and 2015 and, at the time of signing, have an average of 12.7 years remaining under the FiT contracts and an average remaining life of 27.3 years. The portfolio, which has EUR99 million (US$116.61 million) of existing project finance from Hamburg Commercial Bank, is being acquired from one of the renewable funds that Samsung Securities has invested in and a minority investor. The Company will receive the economic benefit of all cash flows from the portfolio from 1 January 2020.
|
Site Name |
Capacity (MW) |
Location |
|
Charleval |
6.2 |
Bouches-du-Rhône |
|
Cuges-les-Pins |
7.3 |
Bouches-du-Rhône |
|
Istres |
7.9 |
Bouches-du-Rhône |
|
LaVerdière |
6.3 |
Var |
|
Brignoles |
4.6 |
Var |
|
Saint-Antonin-du-Var |
7.8 |
Var |
|
Chalmoux |
10.0 |
Saône et Loire |
|
IOVI 1 |
6.2 |
Var |
|
IOVI 3 |
5.5 |
Var |
|
Fontienne |
10.4 |
Alpes de Haute Provence |
|
Ollières 1 |
12.0 |
Var |
|
Ollières 2 |
11.4 |
Var |
|
Arsac 2 |
12.0 |
Gironde |
|
Arsac 5 |
12.0 |
Gironde |
|
Total |
119.5 |
|
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