Eurazeo, Infravia apparently introducing sale of French solar firm Reden
- An auction will be reportedly released, valuing the solar power developer at as much as EUR2bn
Reden, a photovoltaic energy producer in France as well as various other countries, is apparently being put up for sale by its proprietors Eurazeo and Infravia.
Eurazeo as well as Infravia will launch an auction for the French solar group that can value it at as much as EUR2bn, reported Reuters, citing 3 undisclosed sources having knowledge regarding the growth.
Based on the resources, Citi and Nomura Greentech have been trapped to enable the sale procedure of Reden.
Eurazeo and Infravia are investment company, which hold risks of 47% and also 53%, respectively in the French solar power company.
The publication reported that a rep of the solar power business validated that both shareholders are evaluating their tactical alternatives regarding their stakes as well as had employed the financial investment banks as experts.
Among the sources told the publication that facilities investors and pension funds will be one of the most probable prospects to get Reden.
Developed in 2008, the company is a developer, installer, and also producer of solar power.
Based in Agen in the south-west of France, the firm is concentrated on establishing photovoltaic solar plants in Europe and also South America. Last year, it broadened to Greece.
The business expects to reach 1GW in capacity throughout 2022. Since May 2021, Reden had actually an installed capability of 615MW, as per a details sheet supplied to potential investors and seen by the publication.
In France, the company has an operational and also incomplete portfolio of 273MW. In Mexico, its capability is 95MW and also in Spain, it is 67MW.
Reden likewise has solar power plants either in operations or unfinished in Puerto Rico (52MW), Chile (47MW), Portugal (44MW), and also Greece (37MW).
The French company is claimed to have proficiency in developing photovoltaic agricultural greenhouses, ground-mounted plants, photovoltaic shelters, and photovoltaic rooftops. It additionally makes photovoltaic modules.