Conquest Asset Management has signed an agreement with Engie subsidiary Solairedirect to purchase a portfolio of six solar photovoltaic (PV) parks for an undisclosed sum.
Situated in the south of France, the portfolio features a total of 35MW power capacity.
French incumbent utility EDF has already signed power purchase agreements to receive generation from the solar parks for a period of up to 20 years.
Engie Group will also provide operations and maintenance services to the portfolio under long-term deals.
Solairedirect's managing director Amaury Korniloff said: “This transaction is the result of the relentless work and expertise developed at Conquest in the infrastructure space and renewable power real assets over the past years and is a strong illustration of Conquest’s team involvement in the industry, developing strategic partnerships with an energy player like Engie.
“Those assets are best-in-class in the current European renewable energy landscape. They have been designed, built, and modelised hand-in-hand with Conquest.”
Recently, Conquest has completed the first round of investment with major European institutional investors to fund its renewable power projects.
Last month, Solairedirect announced that its Indian subsidiary had secured a bid to build a 338MWsolar project, NTPC Kadapa, in Andhra Pradesh, India.
Expected to be operational by mid next year, NTPC Kadapa will be developed as part of the Indian state’s National Solar Mission Phase II programme.
Image: A solar panel. Photo: courtesy of Business Wire.