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Sorgenia and KKR form wind energy JV in France

Sorgenia (CIR group) and investment firm Kohlberg Kravis Roberts & Co LP (KKR) have formed a joint venture (JV) for the production of wind energy in France.

By Renewable Energy Focus staff

The assets will include wind farms already built by Sorgenia with net capacity of approximately 153 MW – 149 MW owned by the JV of which 41 MW use leased wind turbines, and 16 MW in which the JV has a 25% ownership interest – as well as wind parks with net capacity of 95 MW that are under development.

KKR and Sorgenia will have an equal share in the wind power JV and Sorgenia will manage the operations. Sorgenia will continue to independently pursue the development of further renewable energy projects in France, both in the wind and solar photovoltaic (PV) sectors.

“An alliance with a highly qualified and experienced investor such as KKR will enable the Sorgenia group to expand its presence in the French market and consolidate its position as a leading operator in the renewable energy sector,” says Mario Molinari, General Manager of Sorgenia.

“In the wind energy sector the business plan of the Sorgenia group envisages an increase in its generation capacity in Italy and France from 234 MW at the end of 2010 to over 450 MW in 2016.”

Jesus Olmos, the European Head of KKR’s infrastructure business, adds: “KKR aims to be an active investor across the entire energy spectrum, and this partnership with Sorgenia allows us to enhance our portfolio by investing in renewable energy, one of the most attractive and promising areas of infrastructure.”

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