May 20 (Renewables Now) - UK onshore renewables investor Octopus Energy Investments today said it has purchased an 18-MW under-construction wind park in France from UK-based Renewable Energy Systems Ltd (RES).
The Roche Quatre Rivieres project is planned to be commissioned by late 2019. Its acquisition, the value of which was not provided, will diversify Octopus’ renewables portfolio in France into onshore wind and marks the start of the company’s “ambitious acquisition plans,” said Alex Brierley, co-head of Octopus.
RES is the developer of the Roche Quatre Rivieres project and will also take care of its construction and provide asset management services following completion. This is the third project Octopus has acquired from RES and the first one outside the UK.
Earlier this month, Octopus closed a GBP-344-million (USD 438.5m/EUR 392.9m) refinancing of a 230-MW onshore wind portfolio in the UK and launched construction of 71.4 MW of onshore wind farms in Finland in partnership with French developer Valorem.
(GBP 1.0 = USD 1.275/EUR 1.142)