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02 Nov 2015 – Velocita, the London-based renewables developer, has hired Augusta to advise on the sale of its renewables portfolios in the UK and France, which represents its entire portfolio of assets, three bankers told Mergermarket. The group’s UK portfolio consists of 16 wind energy projects from development-stage to operating assets, totalling 533 MW, and its French portfolio consists of 27 projects from development-stage to operating assets, totalling 706 MW, according to its website. The sale process has recently been initiated, and has been spurred in part by the changes to the rewnewables subsidies schemes in the two countries, the bankers said. The future of UK onshore wind developments was thrown into doubt after the election of the Conservative government in May this year. The previous Conservative-Liberal Democrat coalition government introduced electricity market reform that included fixed subsidies for renewable energy projects. Auctions for these fixed subsidies, known as Contracts for Difference (CfD), have been postponed, throwing the financial viability of many projects into doubt. “There is no longer any point in having a development platform in the UK,” commented one banker. Velocita and Augusta did not respond to a request for comment. The firm has several wind farms in operation, including the 12 MW AOE wind farm in Scotland, and the 14 MW Monts du Lomont Phase 1 wind farm in France, according to its website. Its construction-phase projects include Lomont phase 2 (16.7 MW), Vaite windfarm (39 MW), and Rougemont windfarm sites 1 and 2 (81 MW), which are all in France. Its UK development portfolio includes the 7.1 MW Sorbie windfarm in North Ayrshire and the 35.4 MW Airies windfarm in Dumfries and Galloway. In June 2014 Velocita sold the 24 MW Maerdy wind farm in Wales to Greencoat for GBP 53m. Augusta also advised Velocita on this sales process. by Katie McQue |
Katie McQue 