F2i and Crédit Agricole, Energya VM (EVM), as reported by both companies, although they have not specified the amount of the operation.
Specifically, the agreement involves the acquisition of a total of 53 MW in operation and a portfolio of wind projects in an advanced stage of development of 430 MW, located in the north of Spain.
F2i, through the “V-Fondo de Infraestructuras Sostenibles” fund, will acquire 60% of the wind portfolio, while the remaining 40% will be held by Crédit Agricole Assurances, F2i’s current partner in EF Solare.
In this way, F2I expands its presence in the renewable energy market in Spain, where it is already present through Renovalia, a company that it acquired in 2019 and which currently has a photovoltaic installed capacity of 200 MW and projects under construction or advanced. development stage for 1,200 MW. In addition, in Italy, through its subsidiaries EF Solare and Sorgenia, it operates more than 1,300 MW of installed wind, photovoltaic and vegetable biomass power.
Along with this wind energy portfolio, F2i will also acquire a 40% stake in EVM, the marketer of Grupo Villar Mir, as well as a short-term option to acquire the remaining 60%.
The operation represents the fourth investment of the ‘V Fund’ of the firm, which, since its launch a year ago, has already raised around 1,300 million euros, out of a target of 1,500 million euros.
The CEO of F2i, Renato Ravanelli, pointed out that with this operation the firm takes “an important step towards consolidation in the renewable energy market in Spain” and added that “the acquisition of the Villar Mir wind farms complements the activity solar in one of the most promising renewable energy markets in Europe and lays the foundations for a portfolio of European renewable assets, increasingly strategic in the current macroeconomic and geopolitical context.”
For his part, the CEO of Crédit Agricole Assurances, Philippe Dumont, was “very enthusiastic” about this new partnership with F2i, after the joint investments in Italy and added that “this new acquisition in renewables will benefit from the know-how “how of Renovalia as a developer of greenfield projects. This investment is fully in line with the commitments of the Crédit Agricole Group in favor of the climate and will contribute to reaching our goal of 14 GW of installed capacity by 2025”.
sales process
Thus, a sale process that Villar Mir began at the end of last year and in which a large number of companies in the sector were interested is closed. When the divestment process was launched, a sale figure for all the assets of around 200 million euros was considered.
The sale of its energy business will also allow the group, OHL’s former largest shareholder, to alleviate its accounts after it had to resort to financial aid from SEPI.
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