Opale and AET to Create French Wind Firm

Opale Group and Amundi Energy Transition (AET) have signed a partnership agreement to create a platform for producing wind energy in mainland France.

The ALBA I fund, managed by AET, will own 80% of the new business Opale Vesontio.

Opale will hold the remaining 20% stake and is responsible for day-to-day operational management.

Opale’s initial contribution to Opale Vesontio is a wind energy portfolio of 27MW, comprising two wind farms in France’s Burgundy Franche-Comté region.

The first wind farm, with three turbines, will begin production in H1 2021.

The second has six turbines and is expected to be operational at the end of 2022.

The low-carbon energy they produce will offset around 28,000 tonnes of CO2 equivalent per year, or enough power to supply 27,000 people.

Opale chief executive Jean-Pierre Laurent said: "We are pleased to have the financial backing of Amundi Energy Transition, one of the first infrastructure funds to focus exclusively on the energy transition.

"This deal greatly increases our development capacity but still allows us to remain independent.

"AET’s support for the creation of the Opale Vesontio platform confirms our strategy of focusing on regional project developments and the energy transition."

AET chief executive Matthieu Poisson added: "We are delighted to back Opale, one of France’s few remaining independent wind energy producers, which is now directing its efforts towards regional support.

"This partnership is testament to AET’s ability to forge new alliances with leading players who have regional roots in France and throughout Europe.

"Opale Vesontio is the third large-scale deal in the last two months, after our transaction with Sonnedix and TTR Energy last December.

"Just two years after raising capital, the ALBA fund I managed by ATE now has over 200 renewable assets in Europe, representing a power output of 1400MW."

Green Giraffe and Tevali Partners provided financial advice to the partnership, the technical adviser was Everoze, and legal assistance came from Meridian Avocats and De Gaulle Fleurance & Associés.