International Power announces that it has acquired the 436MW Levanto onshore wind farm portfolio from Christofferson Robb & Company (CRC) for an enterprise value of € 567 million.
The Levanto wind farms comprise 286MW of capacity in operation, 126MW under construction, which is due to commence operation in 2007, and 24MW of fully permitted capacity, which is planned to commence operation in 2008. The enterprise value includes the funding required to complete wind farms under construction and fully permitted. 409MW of the capacity is located in Germany and 27 MW in France. CRC will continue to work in collaboration with International Power by supporting the business for up to three years under a services agreement. International Power has first right of refusal to their development pipeline across Europe.
