Germany's EON has sold a portfolio of 20 wind farms in France to Riverstone Holdings' UK-based subsidiary, Velocita Energy Developments, for an undisclosed amount.
The wind farms were sold as a part of EON's strategy to raise €15bn by 2013 to pay its debts and fund an international expansion programme.
Opales Energies Naturelles, which has been responsible for developing the sites for EON to date, will now be contracted to Velocita.
The portfolio of projects includes several onshore wind farms ranging from 20-90MW in generating capacity, which are to be developed.
Velocita Energy expects that 50% of the 750MW in the portfolio to gain permits within the next two years.