Fred. Olsen Renewables AS (FOR) acquires a majority ownership in the French wind farm developer, Global Wind Power France. FOR has been investigating alternatives for geographical expansion of its onshore wind business, and after an extensive process, has chosen to invest in Global Windpower France ApS (GWP), a Danish company with activities in France, Germany and North Africa.
GWP's business model is as a developer, where it identifies and secures sites suitable for projects, develops them through to consent and then sells to third parties. FOR will acquire a 51% ownership in GWP from Global Wind Power Europe, a company established in Denmark and which has been an active developer across Europe.
