H2air and Nordex Sale of 75MW Turnkey Wind Farm Project in Northern France to KGAL Group
The H2air Group and Nordex Group have sold their interest in the Seine Rive Gauche Nord (SRN) wind farm project to the institutional Fund Enhanced Sustainable Power Fund 3 (ESPF 3) managed by KGAL Group. H2Air, via its subsidiary H2airPx, and Nordex are responsible for the turnkey construction of the wind farm. The project is located in Aube, Champagne-Ardenne, northern France and consists of 30 Nordex N100 wind turbines of 2.5MW each, with a total installed capacity of 75MW. Construction at the project site is already underway and the commissioning of the last turbine is planned for May 2015.
H2air and Nordex have developed the project. The two companies are already constructing a dedicated transformer substation which will establish a direct grid connection to the high voltage RTE Transmission network, making this a unique project for the French energy market.
When in service the farm will produce 183 million kilowatt hours per year, providing enough green electricity for the annual needs of approximately 50.000 households The technical and administrative management of the wind farm will be assured by H2air subsidiary H2airGT, adding to its 32MW management portfolio in the department of Aube.
"The success of the emblematic SRN wind farm is a testament to our dedication and our sincere cooperation with both local and corporate partners. The result of which is a unique project that contributes to both French and European ambitions in the development of renewable energy." President, H2air Roy Mahfouz.
"This project marks a major success for me for many reasons. For one thing, it is one of the largest internally developed projects. And, for another, it underscores the good cooperation via important partnerships in France and Germany" says Nordex Management Board member Lars Bondo Krogsgaard.
About the H2air Group
Located in Amiens, the H2air Group develops, constructs and operates onshore wind farms, mainly in metropolitan France. The H2air Group has a portfolio of over 30 projects, representing a total capacity of over 500 MW, of which 32 MW are fully operational and 120MW in different stages of realisation. H2airPx and H2airGT are the groups dedicated subsidiaries for wind farm construction and technical and commercial management. The different regional offices allow H2air to integrate the advantages and tackle localised challenges with a view to creating unique projects adapted to the local environment. A reliable and independent partner, H2air accompanies each project from its conception up to its completion.
As one of the technological leaders in multi-megawatt wind power systems, Nordex is benefiting from the trend in favour of large-scale turbines. The Generation Gamma range comprises the N90/2500, N100/2500 and the N117/2400, which is one of the most efficient onshore turbines. To date, over 2,600 of these turbines have been produced. This experience with multi-megawatt turbines gives Nordex a decisive lead over most of its competitors. With Generation Delta, Nordex is now offering the fourth generation of its proven multi-megawatt platform (N100/3300, N117/3000, N131/3000). Nordex has installed a total of around 5,600 turbines with an aggregate capacity of more than 9,000 MW all around the world. With exports accounting for more than 85 percent of its business, Nordex SE plays a key role in international high-growth regions. The Company has offices and subsidiaries in 22 countries around the world with a total global headcount of over 2,500 employees.
KGAL GmbH & Co. KG with registered offices in Gruenwald near Munich (Germany) has been initiating and managing long-term real capital investments with sustainable and stable yields for more than 46 years. The company's portfolio of services comprises the design and management of funds for institutional investors as well as investment solutions for family offices and trusts. The quality of KGAL products in the main asset categories of real estate, aircraft and infrastructure is based on the experience of its in-house experts.
As of December 31st 2013, the KGAL Group managed an investment volume of EUR 24.6 billion. KGAL currently manages capital for 110,000 investors (incl. multiple subscriptions) with equity investments in a total of 133 active limited partnership funds. Investors have entrusted EUR 6.9 billion in equity capital to KGAL for these funds. The KGAL Group has 316 employees (as of 31.12.2013).