MIRA to sell Renvico
Macquarie Infrastructure and Real Assets (MIRA), via Macquarie European Infrastructure Fund 4 (MEIF4), is to sell its interest in Renvico to ENGIE.
Renvico is a leading developer and operator of onshore wind farms, currently invested in 142 MW of installed generation capacity across Italy. In addition, Renvico owns a 50 per cent stake in a joint venture with KKR in France, representing a further 187 MW of installed onshore wind generation capacity. As part of this transaction, KKR and its co-investors in the French joint venture have also agreed to sell their combined 50 per cent stake to ENGIE.
Leigh Harrison, Head of MIRA EMEA, says: “During MEIF4’s period of investment, Renvico has cemented its reputation as a major player in the European renewables sector – supporting Italy and France as both countries transition to a more sustainable energy mix. We are delighted to have played a role in Renvico’s growth story and to have found a new owner who will oversee its continued development.”
When MEIF4 acquired Renvico, previously known as Sorgenia Green, the business managed stakes in 277 MW of installed onshore wind generation capacity. Since then, Renvico’s portfolio has grown to 329 MW of installed capacity today with an additional pipeline of more than 300 MW under development.
Since making its first investment in renewables in 2005, MIRA has established itself as a major investor in the sector. Today, MIRA and its managed funds oversee investments in 12.2 GW of green generation capacity across onshore and offshore wind, solar, hydro, geothermal, bioenergy and energy from waste projects.