Financial close for Impax wind farm

The London-listed investor and its portfolio company Epuron have announced financial close for a 12-MW wind farm under construction in Picardie, Northern France. Earlier this week, Impax announced substantial additions to its French wind platform.

Impax Asset Management, which is quoted on London’s Alternative Investment Market, has announced financial close on Parc Eolien de la Chaude Vallee (Chaude Vallee), a 12-megawatt (MW) wind farm under construction in Picardie, northern France.

The announcement was made jointly with Epuron, the French and German wind development business which Impax acquired from German solar company Conergy in December last year.

The €20 million project financing for Chaude Vallee was provided by Natixis and includes construction, VAT and long-term loan facilities. A turnkey contract for the construction was signed in August with REpower, a German manufacturer of onshore wind turbines. REpower and Epuron said in a statement they planned to roll out further projects in France during 2012.

Impax investment director David Trafford-Roberts said in the statement that Epuron “will begin construction on a further 100MW over the next six months in France and Germany and are in the process of short-listing banks to provide project finance for this programme”.

Earlier this week, Impax announced that its €330 million New Energy Investors II fund had paid an undisclosed sum to acquire a portfolio of French wind farms from Spanish developer Eolia Renovables, adding up to around 100MW of potential generating capacity. The deal also included a single 6MW asset in Poland, Impax’s first acquisition in the country.