German renewable energy developer ABO Wind has sold eight French wind farms, with a total capacity of 116.5MW, to Czech utility CEZ.
ABO Wind stated that the wind farms included in the transaction are in different stages of planning. As per the sale agreement, ABO Wind will connect the wind farms to the grid over the next few years and will also provide operations and management.
Under the terms of the agreement, the company will receive milestone payments that depend on the progress of the projects.
For the projects now sold, it has secured remuneration in accordance with the tariff system valid until 2016, which is an inflation-indexed feed-in remuneration of about €80/MWh over a period of 15 years via market premiums. Similar to Germany, the wind and solar projects in France have to apply for remuneration in tenders.
ABO Wind managing board chairman Andreas Höllinger said: “In light of our excellent cooperation it was an obvious choice to expand our partnership. We look forward to working together to advance renewable energies in France.”
Höllinger continued saying: “However, after Germany, France remains the second most important market for us.”
In recent years, ABO Wind has expanded its business activities across several countries.ABO Wind SARL has four offices in Toulouse, Orléans, Nantes and Lyon, where it employs 80 people. Presently, the company is working on projects totaling 900MW, including several solar farms.
In December last year, ABO Wind was selected to build five solar farms with 45MW of capacity in Greece. These projects will be located in the Thessaly region in Central Greece and in the Thrace region in Northern Greece.
Besides these solar projects, the company had also sold two wind farms in Spain totaling 70MW, prior to their construction.
Headquartered in Czechia, CEZ Group is an integrated energy conglomerate with presence in Western, Central, and Southeastern European countries.Its core business includes generation, distribution, trade in and sales of electricity and heat trade in and sale of natural gas and coal extraction.