France's Total Eren to buy 657-MW portfolio operator NovEnergia

February 26 (Renewables Now) – French renewables developer Total Eren SA will acquire NovEnergia Holding Company (NHC), a Luxembourg-based independent power producer which Total Eren says is worth over EUR 1 billion (USD 1.1bn).

Total Eren announced the share purchase agreement on Tuesday without disclosing financial details of the acquisition.

NHC has been active in Southern Europe since 2001, focusing most of its activities in Portugal, Italy, France, Spain, Bulgaria and Poland. It has a portfolio of wind, solar and mini-hydro plants representing a total net installed capacity of 657 MW and 47 fully operating assets, Total Eren said.

“Acquiring the NovEnergia Holding Company deeply strengthens our footprint in the European market, where Total Eren already holds a historical and long-lasting presence in France, Greece and Italy,” Total Eren chairman and co-founder Paris Mouratoglou said.

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