First Reserve Invests $150M In European Wind Farms

Law360, New York (December 5, 2011, 1:07 PM EST) -- U.S. private equity firm First Reserve Corp. has committed $150 million to a joint venture with Spanish renewable energy developer Renovalia Energy to buy and operate wind farms in Europe and North America, the companies said Monday.

The new company, Renovalia Reserve, will run Renovalia's existing wind farms in Spain and Hungary and will take over planned projects in Spain, Canada and Romania, the companies said. The joint venture will be headed by Renovalia Energy chairman Juan Domingo Ortega.

The existing projects have a total capacity...
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