The fund managed by BNP Paribas Clean Energy Partners has acquired 100 per cent of Gortahile Windfarm, which owns and operates a 20 megawatt wind farm in County Laois, Ireland, from ABO Wind Ireland.
The Gortahile Windfarm began commercial operation at the end of August 2010. It is forecast to produce approximately 70 GWh of electricity per year, enough to meet the annual needs of over 11,200 households.
"This acquisition represents the cornerstone of a larger portfolio that we intend to build in Ireland," says Joost Bergsma, chief executive of the fund. "Ireland is a very attractive renewables market for financial investors because of its strong wind regime, its robust Refit support policy, and its commitment to achieving its 2020 renewable energy target."
As part of its geographically diversified investment portfolio, the team aims to acquire additional assets of wind generation capacity in Ireland over the course of its investment period.
The Gortahile Windfarm acquisition is the first in a partnership agreement between BNP Paribas Clean Energy Partners and ABO Wind, in which the parties have agreed to transact 50 megawatts of generation capacity over the next 16 months.
ABO Wind has interests in Germany, France, Spain, Ireland, UK, Bulgaria, Belgium and Argentina.
