ERG gets 152.4 MW of renewables in France, Germany

• Neighborhood subsidiaries of Italian energy company ERG SpA (BIT: ERG) are getting a 152.4-MW operational wind and solar portfolio in France as well as Germany.

The transaction includes the purchase of 100% of the funding of 15 firms that hold the possessions in the portfolio for an enterprise worth of EUR 202 million (USD 235m), the Italian company said on Monday.

The portfolio includes seven photovoltaic or pv (PV) and three wind farms throughout France, amounting to 56.7 MW and also 40.6 MW, respectively. In Germany, ERG has actually bought five wind farms with an integrated ability of 55.1 MW. The centers were activated between 2013 as well as 2015.

On the whole, the portfolio has a projected annual production of 273 GWh and also take advantage of an incentivised tariff system with an ordinary expiry day of 2032, ERG explained in journalism launch.

The properties concerned are managed by KGAL and are being purchased from a German pension plan fund.