Velto Renewables Completes Acquisition of 11 MW L'Escur Wind Farm in France
Velto Renewables now owns the L'Escur wind farm in the Tarn department after completing its acquisition from Q ENERGY. The 11 MW installation marks the company's second onshore wind farm.
| Sectors | Wind Energy, Onshore |
|---|---|
| Themes | Investments & Transactions, Energy Asset Transfers |
| Companies | Q-Energy, Velto Renewables, Hanwha Solutions Corporation |
| Countries | France, Spain, United Kingdom, Germany |
Velto Renewables has completed the acquisition of the L'Escur wind farm from Q ENERGY, becoming the sole owner of the installation located in Murat-sur-Vèbre, in the Tarn department. The infrastructure comprises five Vestas V90 turbines of 2.2 MW each, installed at a hub height of 80 meters and reaching a total height of 125 meters. The facility has an installed capacity of 11 MW and includes a distribution substation.
A Second Onshore Wind Farm in the Portfolio
With this deal, L'Escur becomes Velto Renewables' second onshore wind farm. The company is an independent power producer (IPP) founded in 2020 and backed by investment group La Caisse, formerly known as CDPQ. The park generates an average of 39.5 GWh per year, according to both companies, enough to power approximately 8,300 households while avoiding more than 850 tonnes of CO2 annually. Similar transactions have recently closed in the sector, such as the financing close of Cherry Valley Solar I, a 135 MW solar project in Arkansas.
Lucas de Haro, Chief Executive Officer of Velto Renewables, states that L'Escur is the fifth project built in France in partnership with Q ENERGY. He notes that the company operates two other solar projects in the Occitanie region, creating geographic synergies with the new wind farm. Velto Renewables currently holds more than 600 MW of projects in operation or under construction in Spain and France.
A Five-Project Partnership Concluded in France
The sale of L'Escur marks the completion of a portfolio of five jointly developed projects, comprising two wind farms and three photovoltaic plants totaling approximately 130 MW in France, according to Junu Lee, Chief Executive Officer of Q ENERGY. He highlights the quality of the group's engineering and construction activities, which claims more than 2.8 GW of renewable energy assets already delivered across Europe and a development pipeline of 8.2 GW. Q ENERGY employs 600 staff between its Berlin headquarters and its international offices.
Q ENERGY's parent company, Hanwha Solutions Corporation, is a South Korean conglomerate of which Q ENERGY forms the energy division alongside its sister company Hanwha Qcells. Velto Renewables, for its part, holds a 25% stake in a 630 MW offshore wind farm in the United Kingdom and is developing more than one gigawatt of greenfield projects in the Iberian Peninsula.
