The wind farms are estimated to produce 111GWh of renewable energy per year which is equivalent to supply electricity to approximately 32,000 Belgian homes
Alternative asset management firm, Conquest has acquired 51% stake in a portfolio of five greenfield onshore wind projects in Belgium totalling 43MW from energy company ENGIE Electrabel.
The firm has conducted the deal through its Conquest Sustainable Infrastructure fund and the financial details of the transaction are not disclosed.
Located in the Flanders Region in Belgium, the wind farms are estimated to produce 111GWh of renewable energy per year which is equivalent to supply electricity to approximately 32,000 Belgian homes.
The five wind facilities are expected to come online in 2021
Slated to begin operations in early next year, the wind projects are eligible for green certificates for 15 to 20 years under local remuneration schemes.
Conquest said the investments are in line with the fund’s strategy to invest in risk-adjusted portfolios in Europe.
The firm invests in and operates long-life, high quality assets and businesses on behalf of its clients that range from large pension funds to single-family offices.
With 15 professionals, the firm manages €250m ($275.5m) worth of assets which are under management and 17 investments across Western Europe.
Electrabel, a subsidiary of French electric utility company ENGIE group, that provides tailor-made energy solutions to its 2.7 mios residential, business and industrial customers.
The energy company is claimed to be the biggest green power producer of Belgium with an installed capacity of 721MW.
The project is a part of the Egyptian government’s efforts to increase the share of renewables in the energy mix with a target wind generation capacity of 7GW by 2022.
The Ras Ghareb wind farm was developed by Ras Ghareb Wind Energy SAE owned by Engie, and its consortium partners Toyota-Tsusho / Eurus Energy and Orascom Construction.
Furthermore, the French electric utility company has acquired a wind farm management company, Renvico from Macquarie Infrastructure and Real Assets (MIRA).