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France

France

Infigen sells French assets to fund Australian push

FRANCE: Infigen Energy (IFN) has announced the sale of its French wind farms, comprising a capacity of 52MW, to a London-based investment fund.

IFN has sold the wind farms for €71.3million to the European Renewable Energy Fund, which is managed by investment fund Platina Partners.

Speaking about its decision to sell, IFN said it had identified its French assets as "non-essential" to the business. The sale will be used to develop plans for the Australian market.

Miles George, Infigen managing director said "The sale of Infigen's French business will provide additional cash for equity investment in our Australian wind farm development pipeline.

"It is consistent with redirecting our future focus to the Australian renewable energy market which is poised for strong growth over the next ten years. Infigen has a high quality Australian development pipeline, proven capabilities in project delivery, and further strengthened financial capacity to participate in that growth".

Infigen has 31 wind farms comprising 2.1GW in Australia, US and Germany.

 

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