Q Energy Finalizes The Sale of a 73.2 MW Renewable Energy Project Portfolio in France to ERG

Source Company Press Release
Company ERG S.p.A., Hanwha Corporation
Tags Country: France, M&A: Asset Deal, Deals, Renewables: Renewables News, Segment: Power
Date January 11, 2024

Q ENERGY, a major player in Europe´s renewable energy market, announces the successful completion of the sale of a 73.2 Megawatt (MW) portfolio of renewable energy projects in France to the Italian independent renewable energy producer, ERG.

This strategic transaction marks a significant milestone in Q ENERGY's commitment to developing sustainable power solutions while further cementing its position as a key player in the renewable energy sector. ERG, known for its commitment to energy transition, aligns seamlessly with Q ENERGY's vision of a greener, more sustainable future.

"We are thrilled to announce the sale of our 73.2 MW portfolio of renewable energy projects to ERG," stated Joshua Lim, Deputy Managing Director of Q ENERGY France. "This collaboration underscores our shared dedication to driving impactful change in the renewable energy landscape. It also represents a pivotal moment for both organizations, as we collectively accelerate progress towards a more sustainable and environmentally conscious future."

The acquired portfolio by ERG encompasses two operational solar PV farms, one in the Gironde area of France and the other in the Pyrénées Orientales, with a combined installed capacity of 20.4 MWp, an additional 28.8 MWp solar project in an advanced phase of construction in the Pays de la Loire region, and a 24 MW wind farm in the final phase of commissioning, following a recent repowering in the Aude region. The total annual estimated energy production of the portfolio is around 125 GWh, or the equivalent of 64 kilotons of CO2 emissions avoided.

The two PV plants in operation and the wind farm, benefit from a tariff regime supported by a 20-year CfD, while the production of the solar project in the Pays de la Loire region, which will enter operation in the second quarter of 2024, is linked to a 15-year PPA signed with a leading French retail company.

Q ENERGY remains committed to sustainability, innovation, and environmental stewardship, aiming to create a lasting impact on Europe´s renewable energy landscape.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd