By Alberto Delclaux 
 

Engie SA (ENGI.FR) said Wednesday that it will participate in the development of nine wind farms in Spain, with a combined capacity of 300 megawatts.

The French utility will hold a 15% stake in the project, in which Natixis's (KN.FR) subsidiary Mirova will be its main partner with a 51% stake, General Electric Co. (GE) will hold 25% and Forestalia the remaining 9%.

The total investment will amount to approximately 300 million euros ($353.6 million), Engie said.

Engie also signed a 12-year power purchase agreement to buy a large part of the electricty generated at the wind farms, it said.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

May 23, 2018 12:35 ET (16:35 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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