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PRINT THIS PAGE HgCapital buys French wind farm portfolio from ENERTRAG for €69m09/05/2007. Source: AltAssets. 
 European mid-market private equity investor HgCapital has acquired a French wind farm portfolio from Germany's ENERTRAG for €69m. The portfolio consists of four wind farms located in the Picardy region of France using 23 Enercon-manufactured turbines with a total capacity of 47.5 megawatts.
One wind farm is already in operation and the other three will be built by ENERTRAG within the next 12 months. ENERTRAG will operate and maintain the wind farms for 20 years.
HgCapital's fund Hg Renewable Power Partners has provided the acquisition equity.
This transaction brings the total power output of HgCapital's operating European renewable energy portfolio to over 100 megawatts, representing approximately €150m in investment volume.
HgCapital's other wind farm investments include Sorne Wind - Ireland (32 megawatts), Tir Mostyn - North Wales (25.25 megawatts) and Wind Direct/Workington Energy - Cumbria, England (4 megawatts). In addition to its existing renewable energy portfolio, HgCapital has also secured the rights to acquire further renewable energy projects in Europe which would produce over 500 megawatts of power output.
Tom Murley, HgCapital's director for its energy investments, said, 'We are excited to reach this agreement with ENERTRAG, whose development, construction and operational expertise, commitment to quality and long-term partnership approach make them the ideal partner for HgCapital. This transaction is indicative of the trend in European wind financing towards professional investors and strong developers establishing framework arrangements to finance larger wind portfolios. We hope that this is the first of many investments with ENERTRAG. Our expansion into France extends our Europe-wide strategy of investing in quality assets with the best developers.'
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