A consortium consisting of EDF Energies Nouvelles, MEAG and GE Energy Financial Services has inked an agreement with Iberdrola to acquire 30 wind farms with an installed capacity of around 305MW.

As per the agreed terms, GE Energy Financial Services and MEAG will each hold a 40% stake in the wind power projects, while the remaining 20% will be held by EDF Energies Nouvelles.

Meanwhile, EDF Energies Nouvelles will provide asset management, as well as operations and maintenance services at the wind power facilities.

This transaction is expected to bolster the three consortium partners’ portfolio of renewable energy assets in France.

EDF Energies Nouvelles, a subsidiary of the EDF Group, has a portfolio of 4,200MW of green electricity generation capacity.