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Report: Macquarie fund seeking buyers for wind farm operator Renvico

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Report: Macquarie fund seeking buyers for wind farm operator Renvico

A Macquarie Group Ltd.-owned infrastructure fund is seeking buyers for wind farm operator Renvico, Reuters reported, citing four sources with knowledge of the matter.

Renvico, which operates wind farms in Italy and France, could fetch up to €400 million, according to the report. The company was formed in 2015 after Sorgenia Green, the renewables business of Milan-based Sorgenia SpA, was acquired by MEIF 4 AX Holdings Sarl, ultimately owned by Macquarie European Infrastructure Fund IV LP.

The Macquarie fund has begun sending out teasers to potential buyers, including Italy's ERG SpA and multi-utility company A2A S.p.A., France-based Engie SA, as well as renewable investment firm Quercus Investment Partners LLP and London-based alternative asset management group Tages Capital LLP.

Engie confirmed that it was considering the deal as the assets were in line with its global strategy of reducing carbon emission, while A2A is assessing the potential transaction, Reuters added.

Rothschild is advising the Macquarie fund.

Rothschild and Macquarie declined to comment, the news agency noted.