BNP Paribas fund adds 35W to wind portfolio

The €437m fund raised by BNP Paribas Clean Energy Partners in December 2010 has acquired three French wind farm assets, bringing its total wind asset base to more than 100MW. Last month, the fund completed a pioneering biomass deal.

London-based fund manager BNP Paribas Clean Energy Partners has acquired three French wind farm assets, adding a further 35 megawatts (MW) to its wind portfolio and bringing the total to more than 100MW.

The three assets comprise the Mazeray wind farm, which is located in south-west France and is under construction; and the Coudrays and Bois Ballay wind farms, which are in central France and are already in operation.

The deal marks the first partnership between BNP Paribas Clean Energy Partners and Nordex, the German wind turbine manufacturer which developed the assets and will maintain an operational management role.

“French wind farm assets feature a reliable long-term feed-in tariff with favourable inflation linkages,” said James Morris, a director of BNP Paribas Clean Energy Partners, in a statement. “Taken together this creates predictable cash flows which are resilient to inflation.”

The latest acquisition was project financed by German bank HSH Nordbank and is the tenth deal completed by the fund manager in the clean energy sector across Italy, France, the UK and Ireland. The firm closed its fund on €437 million in December 2010.

Last month, BNP Paribas Clean Energy Partners completed the £170 million (€200 million; $265 million) acquisition of the Sleaford straw-fired renewable energy plant from Welsh firm ECO2. It was the fund’s first biomass acquisition and the first project finance-backed biomass deal in the UK for five years.