Leading renewable energy consultancy and service provider, Natural Power, has acted as technical advisor to Octopus Renewables, part of Octopus Group, for its acquisition of a 115MW portfolio of wind farms in a deal totalling more than €100 million with renewable energy company RES.
The portfolio of eight wind farms is comprised of operational sites in France, the UK and Ireland where the business will explore potential opportunities for repowering.
Alex Brierley, Co-Head of Octopus Renewables, said: "This is a further stride for Octopus into the European wind market, mirroring our strength in solar. With these assets, we've significantly expanded our onshore wind footprint in France, which continues to be highly attractive as a destination for investment in renewable energy. Likewise, the favourable support regime in Ireland and the potential for further renewable capacity made it a natural target market for us."
"Having the support of Natural Power as an adviser has been of great value in getting this deal over the line. Their expertise and knowledge, especially when working closely with their team based in France, was extremely useful and we look forward to the prospect of working with them again in future."
Octopus has acquired the operating French assets: Pays de Saint Seine, Marsanne, Lacombe, Caudebronde and La Salesse. In the UK, it has purchased Four Burrows onshore wind farm in Cornwall, and the Dyffryn Brodyn wind farm in Wales. The deal also sees Octopus make its first foray into Ireland with the acquisition of the 15 MW Cark onshore wind farm.
RES will continue to manage and operate the wind farms.
Giles Dearden, Director of Global Due Diligence at Natural Power, said: "We are delighted to have been involved in supporting this deal which really tapped in to our pan-European experience. The project was led by our team based in France, working closely with our experts in the UK and Ireland, to deliver advice that supported the successful conclusion of this landmark transaction."
Natural Power's global due diligence team provides services throughout all stages of the transaction cycle, from initial risk assessment and reporting in early transaction stages through to comprehensive reporting for credit-committee or data room presentation at final bid stage or financial close. Find out more here https://www.naturalpower.com/our-services/due-diligence/