Platina Finance exits three windfarms

This month saw Platina Finance exit Societe Francaise d'Eoliennes, Mistral en Beauce and Ferme Eolienne La Remise des Bruyeres, three of the windfarms in its portfolio.

Platina exited its 25% stake in Societe Francaise d'Eoliennes with the sale of its share to Sogernia. Lazard was appointed by Platina and the other investors to organise the auction process, which saw around 20 offers being placed. The deal with Sogernia was based on the valuation of the company at around EUR350m.

Platina's Mistral Windfarm I fund also divested Mistral en Beauce and Ferme Eolienne La Remise des Bruyeres, which were acquired by gas and electricity company Poweo and Dutch Infrastructure Fund (DIF) respectively, after Augusta & Co was appointed to run a sale process in Q3 2007.

Societe Francaise d'Eoliennes has built up an 115MW windfarm portfolio and controls a development portfolio of around 850MW. In spring 2007 the company acquired a portfolio of hydroelectric plants from Umweltkontor, which Platina assisted with mezzanine bridge financing of EUR15m.

The Mistral en Beauce along with its sister company Ferme Eolienne La Remise des Bruyeres windfarm sites were acquired from Volkswind in 2005. Following the deal, Poweo now has windfarms totalling 41MW. (Pages 45-46).

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• Topics
• Exits
• France
• Infrastructure