Macquarie: Sale of 63MW operating onshore wind portfolio

Augusta & Co acted as exclusive financial adviser to Macquarie European Infrastructure Fund LP (MEIF 1) on the sale of its 63.4MW onshore wind portfolio in France to ERG Renew. The 6 wind farms are distributed across France and entered operation between 2005 and 2008.

Macquarie European Infrastructure Fund (MEIF) is a €1.5 billion wholesale investment fund managed by the Macquarie group. It was established in 2004 to invest in infrastructure and related businesses located in European OECD countries.

Having received initial offers from a wide range of interested buyers in March 2015, Augusta ran a targeted second round that allowed ERG and Macquarie to reach an agreement on the transaction and sign on 17th June 2015. Completion of the transaction on Monday sees ERG Renew acquire a 100% equity interest in the portfolio on an enterprise value of approximately €72m.

James Knight who led the transaction for Augusta commented

“We are very pleased to have supported Macquarie in this sale process. France is a busy market so we needed to make sure we positioned the Martel portfolio to attract and capture the attention of buyers. The attractive and timely transaction reflects the value investors place on a certain process and a well-managed and performing portfolio that continues to benefit from the French government’s strong commitment to renewable energy.”