An arrangement with the leading insurance company in France helps with the goal of doubling wind power capacity in the country, French power group ENGIE said. The French company said it build up its partnership with Crédit Agricole Assurances, the leading insurer, by absorbing the onshore wind power portfolio held by Maia Eolis. ENGIE completed an acquisition of Maia Eolis, which specialized in wind farm construction and development, in May. “Under the agreement, the wind farms operated by Maia Eolis, representing total installed capacity of 267 megawatts, will be transferred to FEIH, the joint venture established by ENGIE and Crédit Agricole Assurances,” the companies explained. ENGIE counts an installed wind power capacity of more than 1,700 MW in France. The French power company said its relationship with the insurer will help with its balance sheet and, as a result, strengthen its regional footing in the wind power sector. France has a goal of using renewable energy to satisfy about a quarter of its energy consumption through renewable energy by the end of the decade and establish itself as a regional leader in wind power technology.
UPI 3rd Jan 2017 read more »