Council pension fund buys stake in Portuguese wind farms
The Lancashire County Pension Fund (LCPF) has bought an equity stake in EDF Energies Nouvelles’ Portuguese wind farms.
The Fund will become a long-term partner in EDF Energies Nouvelles’ sizeable wind farm portfolio of approximately 500 MW of gross capacity, which ranks amongst the top five wind platforms in Portugal.
“LCPF is very enthusiastic about the perspective to become the long term strategic partner of EDF Energies Nouvelles in Portugal and looks forward to developing and strengthening this partnership in the future. LCPF is looking for reliable long-term income yields to match its long-term liabilities and, in this context, we believe that this acquisition fully fits the fund’s strategy”, said Mike Jensen, Chief Investment Officer of LCPF.
LCPF has been advised by Santander Corporate & Investment Banking (France & Portugal) and Uría Menéndez - Proença De Carvalho.
“This strong partnership with Lancashire County Pension Fund is an integral part of EDF Energies Nouvelles’ growth strategy. It conveys our ambition to seize opportunities together in renewable energy on the Portuguese market”, commented Nicolas Couderc, Senior Vice President, Strategy and M&A, EDF Energies Nouvelles.
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues