Octopus Energy Generation has acquired an 80MW agri-solar portfolio in France.
The newly-operational Stronghold solar portfolio comprises two 40MWp solar farms sited on former military bases that have been redesigned for sheep farming.
Renewable energy consultancy Natural Power completed buy-side technical due diligence on behalf of Octopus for the acquisition of the Stronghold portfolio from BayWa r.e France.
One of the projects is in the Indre region in central France, while the other is in Charente Maritime in the south-west of the country.
Natural Power’s head of solar William Delabre said: “We’re delighted to have supported Octopus in this strategic acquisition.
“At Natural Power, we’re committed to enabling the successful deployment of solar energy across Europe, supporting the transition to a more sustainable energy system, and the Stronghold portfolio represents a great example of how solar energy can be integrated into existing landscapes while delivering clean, renewable power.”
Natural Power’s technical due diligence role encompassed a two-phased approach including a review of the engineering, procurement and construction (EPC) and operations and maintenance (O&M) agreements.
It also reviewed the project technology, design, permits, grid connection and route to market as well as the operational and financial model.
Octopus Energy Generation’s investment director Ismaël Tougui said: “We are pleased to have worked with Natural Power on the successful acquisition of these two solar projects.
“Their technical expertise and responsiveness were invaluable throughout the process, and we look forward to continued collaboration on future projects.”
