Macquarie-led consortium obtains French IPP Reden Solar for US$ 2.7 bn.

• A consortium led by Macquarie Asset Management is acquiring French independent power producer (IPP) Reden Solar for a business value of EUR2.5 billion (US$ 2.7 billion).

Active in eight European and Latin American nations-- including its core markets of France as well as Spain-- Reden develops, develops and operates PV plants, with a 762MW functional portfolio as well as a 15GW growth pipe.

Having just recently expanded its impact into Greece and Italy, the Toulouse-headquartered business is now seeking to go into additional markets.

" Our company is consistently advancing from primarily rooftop solar, into ground-mounted and agrivoltaic projects," said Reden CEO Thierry Carcel. "With the support of our brand-new shareholders, we expect increasing Reden Solar's visibility in existing as well as brand-new markets, in addition to creating our teams on the ground.".

Along With Macquarie Asset Management, the obtaining consortium makes up Canadian institutional investor British Columbia Investment Management Corporation as well as asset supervisor MEAG.

They are acquiring Reden from private equity firm InfraVia and also investment company Eurazeo, which own a 53% and also 47% stake in the IPP, specifically. The deal is anticipated to close by Q3 2022.

" Reden Solar's geographically varied platform offers an outstanding chance to scale up its advancement pipeline to assist meet net zero targets throughout Europe," stated Stéphane Brimont, Macquarie Asset Management's head of France, Benelux and also Greece.

Macquarie Asset Management belongs to Macquarie Group, a monetary group with greater than 50GW of green power projects in growth, construction as well as operation globally.

The Reden Solar bargain follows Macquarie lately finished its acquisition of one more French IPP, Apex Energies Group, which presently takes care of greater than 92MW of assets and also is aiming to get to 1GW of capacity by 2025.

Furthermore, Cero Generation, a portfolio business of Macquarie's Green Investment Group, last year obtained a 45% stake in French agriPV designer Green Lighthouse Advancement.