ASSET SALE: JP Morgan onshore wind platform mandates advisor for portfolio sale

JP Morgan-managed funds’ Ventient-Renantis platform is understood to be preparing the sale of a multi-geography operational onshore wind portfolio.

The merged group, which in December 2023 completed a refinancing of Ventient’s circa 2.8 GW European portfolio, is now looking to divest a very approximate 300 MW tranche of its installed capacity and has mandated financial advisor Evercore to support on the transaction in recent weeks, according to market sources.

The prospective sale is set to include wind farms in operation across Germany, Belgium, Norway, Sweden and Finland, with the Nordic projects originally held in Falck’s portfolio, according to market sources.

The process is forecast to launch in 2Q24 and run through the summer.

The refinancing of the Ventient portfolio in December 2023 included a circa EUR 2.2bn term loan in addition to a circa EUR 400m revolving credit facility, with participating lenders believed to include CBA, NAB, AIB, Intesa, Natwest and Axa, among others.

The refinancing package is now out for syndication.

Neither Ventient nor Evercore responded to a request for comment.