KKR & Co has made an offer to buy Albioma SA, an independent renewable energy producer in France, for €485 million. CDPQ, the main lender in the transaction, alongside other commercial lenders and banks, has provided the acquisition financing to support the tender offer.

Albioma SA operates over 1 GW of installed capacity around the world, through thermal, solar and geothermal power assets, mainly in French metropolitan and overseas territories.

In order to meet CDPQ’s transition envelope criteria, a clear and robust decarbonisation plan aligned with the Paris Agreement goals was required and reviewed by an independent expert. Albioma’s conversion plan to convert its thermal plants towards 100% biomass fuel sources is underway, demonstrating the company’s commitment to the energy transition.

Read more: Private Equity Wire