Eolfi hires Lazard to advise on sale of French onshore wind portfolio – sources

07 Aug 16 – Eolfi, the French energy group controlled by Veolia Environnement [EPA:VIE], has hired Lazard to advise on the sale of its operational onshore wind farm assets in France, two sources briefed on the deal said.

Indicative bids for the portfolio have recently been submitted, the first source said.

The portfolio has a total installed capacity of 124 MW, and comprises 15 wind farms that have been in operation for an average of four years, the first source said.

The portfolio is worth about EUR 200m, the sources said. The assets have about EUR 130m debt associated with them, the second source noted. The high amount of debt attached to the assets is likely the reason Eolfi has decided to sell, the second source added.

Veolia Environnement has a market capitalisation of EUR 11.2bn.

Eolfi and Lazard did not respond to requests for comments.

by Katie McQue

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