Providing technical advisory for equity investment in a 43MW portfolio

30-03-2020

Wind4Flanders P5 is a wind energy SPV established by Engie Electrabel for the development, construction and operation of wind farm projects in Flanders, Belgium. As independent technical advisor, 3E was selected by Engie Electrabel to provide guidance for a partial equity investment by an external party.

With an installed capacity of 43MW, the W4F5 portfolio is expected to produce 111GWh/year of renewable power, which amounts to the electricity needs of approximately 32,000 Belgian homes. The five wind farm projects are for the moment still in development or construction stage but are expected to produce power as from early 2021.

As a result of the tender process, one of the major European renewable asset managers, Conquest, was eventually retained as the strongest bidder and acquired 51% equity in Wind4Flanders 5 through its ‘Conquest Sustainable Infrastructure fund’.

Naïma Vandewalle, Operations Director at 3E, explains further: “3E was very pleased to have been able to assist Engie Electrabel in this successful transaction. 3E was selected to perform a technical due diligence on the wind farms within the portfolio in order to identify any potential investment risks and propose suitable mitigation actions. 3E’s extensive international experience and knowledge of the local context have contributed to a quick turnaround of the investment process.”

François Thoumsin, General Manager Renewables Belux at Engie Electrabel, adds: “Engie Electrabel was pleased with the efficiency and flexibility of the 3E teams in meeting our challenging planning. They efficiently answered questions raised by equity investors and legal advisors, which enabled us to close the deal.”

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