Impax invests €20m in wind farm project

Portfolio company Epuron, a French-German wind development firm, was acquired by Impax in December 2010. In August 2011, the GP and Epuron signed construction contracts with German turbine manufacturer REpower, which motivated the acquisition of Parc Eolien de la Chaude Vallee.

Epuron is expected to manage more projects in France and Germany within the next six months.

The investment was made via the Impax New Energy Investors Fund II (NEF II), which held final close in September 2011 on €330m.

Debt
Financing for the acquisition was provided by Natixis.

Company
Parc Eolien de la Chaude Vallee is a 12 MW wind farm in the Picardie, a region in the north of France. The park is still under construction and is expected to be finished by the end of summer 2012.

People
David Trafford-Roberts, investment director, led the deal on behalf of Impax.

Advisers
Equity – Norton Rose (Legal).

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