Neoen to divest 22-MWp solar plant duo in France

Dec 2, 2021 04:31 PM ET
  • France's Neoen SA (EPA: NEOEN) has actually consented to offload its whole passion in two operational solar energy plants in its residence market totalling 21.7 MWp for virtually EUR 29 million (USD 32.8 m).
Neoen to divest 22-MWp solar plant duo in France

The eco-friendly power producer claimed on Wednesday that this will be its second farm-down transaction in France. The bargain will certainly see it transfer the ownership of the Lugos and also Miremont solar parks to an unnamed buyer.

Neoen anticipates to obtain a net resources gain from the sale of around EUR 9 million, which will certainly add to its 2021 earnings prior to interest, tax, devaluation and also amortisation (EBITDA).

The Lugos park in the Gironde department and also the Miremont plant in Haute-Garonne have been producing power since June 2018 and also July 2019, specifically. The assets hold power acquisition contracts (PPAs) with 2038 as well as 2039.

This deal is expected to be finished by end-2021. Neoen kept in mind that it prepares to conduct a 3rd farm-down purchase prior to completion of the year.

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