Renewable energy project developer RP Global is building three wind parks with a total installed capacity of around 49.5MW in the Nord-Pas-de-Calais region, France.
To be implemented and operated by RP Global, the wind parks will be sold to German insurance group Talanx.
Construction on the wind farms is currently underway, with planned completion in mid 2016.
Each of the wind farms will comprise five units of 3.3MW Vestas V112 wind turbines.
RP Global CFO Jorge Rodriguez said: "With this transaction, Talanx have put their trust in our capabilities, which proves the most reputable investors’ confidence in RP Global.
"We are now going down a new path, developing projects for companies looking to invest in renewable energy and bringing them to fruition for them.
"Concurrently we will continue to own a solid portfolio ourselves, and keep up Greenfield development while moving also into Brownfield development and investment."
This development will increase RP Global’s portfolio of hydro and wind power projects in seven countries totaling 1000MW.
Last year, the International Finance Corporation (IFC) offered up to €42.5m in financing for RP Global’s 34.2MW Rudine wind farm in Croatia.
The World Bank affiliate will provide €18.9m to RP Global for the construction of the wind farm near the coastal town of Slano, about 32km north west of Dubrovnik.
The remaining €23.6m will come from UniCredit Bank Austria via a syndicated loan arranged by the IFC.
Image: Each of the wind farms will comprise five units of 3.3MW Vestas V112 wind turbines. Photo: courtesy of RP Global.