A consortium led by Macquarie Group Ltd. agreed to acquire French solar farm developer Reden Solar SAS for an enterprise value of $2.7bn, as it looks to benefit from a global push toward green energy.
The deal, with the buyer group including British Columbia Investment Management Corp. and MEAG, adds to the list of investors pouring in money into renewables with Europe seeking to become carbon neutral by 2050. Clean power is coming into even sharper focus as governments in the continent look to reduce dependence on Russian gas following the country’s invasion of Ukraine.
Reden Solar, which develops, finances, builds and operates plants across Europe and Latin America, is currently 53% owned by InfraVia Capital Partners and 47% by Eurazeo SE. It has a 762-megawatt operational portfolio and a 15-gigawatt development pipeline, Macquarie said in a statement Monday.
Read more: Bloomberg Quint
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.