First Reserve will pump $150m into the new venture – called Renovalia Reserve – as it pursues growth and acquisition opportunities, say the two partners.
Renovalia Reserve will begin life with Renovalia Energy's 244MW of Spanish operating wind assets and its Hungarian portfolio of 15MW, as well as its 300MW-plus wind pipeline in Canada, Romania and Spain.
Renovalia Energy will continue to manage the existing onshore wind farms and the development of new projects.
