Macquarie Acquires France based Reden Solar for $2.7 Billion

Mar 9, 2022 08:49 PM ET
  • Entities like British Columbia Investment Management Corporation and MEAG are co-purchasers of Reden Solar.
  • The independent power producer has an operational portfolio of 72MW as well as 15GW remain in the pipe.

In a significant development in the RE field, France's independent power producer (IPP) Reden Solar has been acquired by a consortium led by Macquarie Asset Management for a venture value of $2.7 billion.

Reden Solar is just one of the leading developers, home builder and driver of solar photovoltaic or pv (PV) nuclear power plant from France. Today the business has a 762MW functional portfolio as well as 15GW projects pipe. It is active in eight European and also Latin American countries. France and Spain are its core markets.

Reden Solar claims that it's seeking to enter even more markets around the world. It has just increased its footprint into Greece as well as Italy.

The acquiring consortium consists of some significant entities like British Columbia Investment Management Corporation as well as MEAG. The acquisition is done from InfraVia, an exclusive equity firm, and Eurazeo, an investment firm. Both have 53% and 47% stakes in Reden Solar. The procurement will certainly be full by the 3rd quarter of the here and now year.

Reden CEO Thierry Carcel, said on the purchase, "Our organization is consistently progressing from predominantly rooftop solar, into ground-mounted as well as agrivoltaic projects. With the support of our new shareholders, we expect broadening Reden Solar's visibility in existing and brand-new markets, along with developing our groups on the ground."

Stephane Brimont, Macquarie Asset Management's head of France, Benelux as well as Greece, added "Reden Solar's geographically varied platform offers a phenomenal opportunity to scale up its advancement pipe to aid meet net zero targets throughout Europe."

Macquarie Asset Management which comes from the Macquarie Group that deals primarily in finance, itself has more than 50GW of green energy projects in growth, building and construction as well as operation throughout the globe. The group has done some remarkable procurements in the current past that has actually swelled its renewable energy portfolio. The firm simply acquired Apex Energies Group that manages 92MW of assets and has intended to go 1GW in the coming couple of years.

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