Gamesa and Impax Agree to Sale of French Wind Project


Gamesa, a global technology leader in the wind energy industry, announces the sale of a wind project in France with installed capacity of 8MW to Impax New Energy Investors II LP (NEF II), an investment fund managed by London-based Impax Asset Management Ltd, via its portfolio company, Epuron France.

The La Souterraine wind project in the Limousin region of France will be equipped with 4 Gamesa G97-2.0MW turbines. The construction of the project — which was developed and will be built by Gamesa — will start by the end of the year.

“This operation shows Gamesa’s strategy in the wind farm development and sale market: To be a technology partner of investors such as Impax, who value investments in high quality renewable energy generation assets,” said Teodoro Monzón, wind farm development and sales managing director.

Joe Berry, investment director in Impax’s private equity infrastructure team, said: “We are delighted to sign our first Gamesa wind farm acquisition, and hope to expand our co-operation in the future. La Souterraine is an excellent fit within Epuron’s fast-growing French portfolio, and another milestone for the company’s ‘buy and build’ strategy.”

Gamesa has had a presence in France since 2000. As a wind farm developer, it has since brought 126MW of capacity online in the country and has a project portfolio of more than 57MW at varying stages of development. Gamesa is a leading industrial group in this market, installing 66 MW. The company also undertakes operation and maintenance (O&M) services on turbines totaling 41MW at 30 wind farms across France.

Impax’s second private equity infrastructure fund, Impax New Energy Investors II LP, has €330 million of capital committed to the renewable energy sector and a growing portfolio of wind power projects including over 200MW in construction and operation in France, Germany, and Poland, as well as solar photovoltaic investments in Italy.

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