Advising Neoen on the sale of two solar power plants
De Pardieu Brocas Maffei has advised Neoen, one of the world’s leading independent producers of exclusively renewable energy, on the sale of its entire interest in the Lugos (Gironde) and Miremont (Haute-Garonne) solar power plants, which have 21.7MWp in total capacity in operation. Both power plants will be sold for an enterprise value of close to €29million.
Located in the Gironde and Haute-Garonne departments, the Lugos and Miremont power plants entered service in June 2018 and July 2019,respectively. They hold power purchase agreements running to 2038 and to 2039, respectively.
The transaction remains subject to the customary conditions precedent and is expected to close by the end of 2021.
This is the second farm-down transaction completed by Neoen following on from the sale of its entire interest in two other solar power plants in France (Grabels in the Hérault and Lagarde in the Vaucluse department) completed in early November2021. These deals are aligned with Neoen’s farm-down policy of selectively selling all of, or a majority stake,in projects or assets from its secured portfolio.
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