Octopus Renewables Infrastructure Trust (ORIT), the investment arm of the Octopus Group, has announced the acquisition of an onshore wind project in West-Central France.
The construction of the 24MW Cerisou wind farm, which will be made up of eight turbines, is expected to be completed in the third quarter of 2022.
The energy company bought the facility from the renewable energy assets developer RES SAS for €56 million (£50m).
Chris Gaydon, Investment Director at Octopus Renewables, commented: “We are pleased to announce the acquisition of the Cerisou wind farm, which marks ORIT’s first wind farm in France, leverages Octopus Renewables’ experience in this market and meets our portfolio diversification goals.
“The French market is attractive to ORIT as long-term subsidies and political support continue to provide investment opportunities in new-build renewable energy assets.”