Italy’s largest utility Enel has joined a race with at least five other bidders to buy the Renvico wind farm portfolio in Italy and France being sold by a Macquarie-run infrastructure fund.
Renvico, which manages wind farms in Italy and France with a total capacity of around 334 megawatts, is worth around €400m (US$441m).
The fund, advised by Rothschild, is expected to choose an exclusive bidder – or exclusive bidders, if the assets are sold separately – this week, with a final deal expected in January.
Besides Enel, other bidders include Italian renewable energy group Erg, investment fund Tages, France’s Engie and regional clean energy company Dolomiti Energia.
Sources say that Erg was interested in the French assets only while Tages was looking to buy the Italian farms.
Italy’s biggest regional utility A2A has previously said it is bidding for Renvico.