First State Wind Energy Investments €900 million acquisition of Finerge

Overview:

• First State European Diversified Infrastructure Fund and Colonial First State Active Infrastructure Income Fund, infrastructure funds managed by First State Investments, acquired 100% of Finerge – Gestão De Projectos Energéticos (Finerge) from Enel Green Power España, a subsidiary of Enel Green Power.
• The Luxembourg based fund paid €900 million for the company's 642MW portfolio, the third largest in Portugal. 
• Financing for the acquisition took the form of a €575 million syndicated club deal through multiple bond issuances. 
• The acquisition was dependent on the reorganisation of Finerge subsidiary ENEOP – Eólicas de Portugal. 

John Crabb - Journalist