M&As this week: NTR and Audax Energy

26 May 2016 (Last Updated May 26th, 2016 18:30)

NTR and China-based smart wind turbine designer and developer Envision Energy have announced an intention to jointly acquire UK-based renewable energy company Velocita Energy Developments.

NTR and China-based smart wind turbine designer and developer Envision Energy have announced an intention to jointly acquire UK-based renewable energy company Velocita Energy Developments.

Velocita Energy Developments operates a 12MW windfarm and is developing 42MW of projects in Scotland, which will be taken over by Irish renewable investment and asset management company NTR following the acquisition.

A 14MW wind park and three France-based projects with a combined capacity of 136MW will be taken over by Envision Energy.

Audax Energy has announced that it has submitted a €70m ($78.48m) bid to acquire Fersa Energias Renovables, a renewable energy company also based in Spain.

The bid represents a price of €0.5 ($0.56) per share and will be materialised if at least 50.01% of Fersa Energias Renovables' shareholders accept.

This follows a sale announcement by Fersa Energias Renovables, which mandated Lazard Asesores Financieros for reviewing the bids from interested buyers.