The assets considered for the acquisition include 11 wind farms totaling 124MW in France and six wind farms in Germany, which have a combined power generation capacity of 82MW.
The deal also includes the acquisition of two companies, one French and one German, which provide operational and commercial technical assistance to captive and third-party wind power operators in France, Germany and Poland.
Estimated to have an average annual output of around 410GWh, the wind farms in France and Germany were commissioned between 2009 and 2014, and 2004 and 2014 respectively.
The sale comes in line with Impax’s proposed operating assets realization in accordance with its fund’s strategy.
Impax Asset Management managing director Daniel von Preyss said: "This sale constitutes a material exit of the current disposal programme of the fund.
"It demonstrates the success of our investment strategy of consolidating our European renewable energy assets into strategic portfolios for exit, as we seek to provide strong returns to our investors."
The deal is scheduled to be completed by the end of this year.
ERG Renew expects that with the acquisition of new wind farms, it will have a total installed capacity of 629MW outside of Italy, which will be 37% of the overall 1.7GW installed.
ERG Renew CEO Luca Bettonte said: "The transaction, which allows the Group to position itself as ninth onshore wind power operator in France and eighth at European level, involves two countries where renewables are considered an essential factor of their energy policy and which we therefore view as fundamental for our future growth.
"Lastly, the acquisition of two companies specialized in operations management services will enable a gradual insourcing of activities pertaining to the management of our wind farms, thus making it possible to both achieve major synergies and expand our presence as industrial operators in the two countries."
