Crédit Agricole Assurances and F2i, the main Italian infrastructure fund, have signed an agreement to acquire from the Villar Mir group wind farms in operation (53 megawatts of capacity) and wind projects at an advanced stage of development (430 megawatts of capacity), located in northern Spain.
F2i, through the Fonds V – Fondo per le Infrastrutture Sostenibili, will acquire 60% of the wind energy portfolio and the remaining 40% will be held by Crédit Agricole Assurances, F2i’s current partner in the EF Solare Italia group.
The seller Villar Mir is a historic Spanish conglomerate operating in 31 countries in the real estate, metallurgy, power generation and construction sectors.
Philippe Dumont, Chief Executive Officer of Crédit Agricole Assurances, said: “We are delighted at the idea of developing a new partnership with F2i following our joint investments in Italy. This new acquisition in the field of renewable energies will benefit from the know-how of Renovalia as a developer of greenfield projects. This investment is part of the Crédit Agricole Group’s commitments in favor of the climate and will contribute to achieving our objective of 14 GW of installed capacity by 2025”.