London, 03 November 2014
Macquarie European Infrastructure Fund 4 (MEIF4) announces that it has entered into a binding agreement to acquire 100 per cent of Sorgenia Green Srl (Sorgenia Green), an Italian and French renewable energy project developer and operator.
MEIF4’s fifth investment, Sorgenia Green develops, operates and manages onshore wind sites across France and Italy. The company’s Italian wind business includes a ~112MW portfolio of operational wind assets with a further ~70MW of projects already permitted. The French wind business is a 50:50 joint venture with KKR Infrastructure and consists of a ~165MW (82.2MW net) portfolio of operational wind assets and a development pipeline of ~40MW of projects already permitted.
"Sorgenia Green is a quality core infrastructure business operating in countries with growing demand and stable regulatory frameworks for renewable energy. With a significant installed base and geographic diversification, Sorgenia Green has strong development potential with a sizable project pipeline," said Edward Beckley, European Head of Macquarie Infrastructure and Real Assets.
MEIF4 is acquiring Sorgenia Green from its parent company Sorgenia SpA.
Completion of the acquisition is subject to satisfaction of a range of conditions expected to be fulfilled towards the end of the year.
Macquarie European Infrastructure Fund (MEIF4) is a specialist infrastructure fund focussed on long-term investment in high quality European infrastructure businesses. It invests on behalf of pension funds and institutional investors who are attracted to the positive long-term investment attributes of well-managed infrastructure.
MEIF4 is the latest in a family of European Infrastructure Funds managed by Macquarie Infrastructure and Real Assets (MIRA). Headquartered in London, MIRA is the world’s largest manger of infrastructure assets, on behalf of pension funds, insurance companies, governments and other long-sighted investors. MIRA manages over 100 infrastructure businesses around the world, representing a total of €76 billion in assets under management. For more information, visit www.mirafunds.com.