Ardian has completed the acquisition of 100% of French renewables developer Akuo and installed former EDF Renewables chief Bruno Bensasson as chief executive.
The Paris-based private equity house bought the stakes held by founders Eric Scotto and Patrice Lucas and by ICG, giving it full control of the 1.9 GW wind-and-solar operator.
Ardian said the new ownership will provide “the financial means needed to continue implementing Akuo’s acceleration strategy”, which aims to lift operational and under-construction capacity to 5 GW by 2030 from today’s 1.9 GW.
Bensasson, who takes the helm with immediate effect, said he was “proud and enthusiastic” to lead the company and “convinced we will be able to accelerate profitable growth” with Ardian’s backing.
Akuo, which has 450 employees, will now focus its 10 GW project pipeline on Europe and the Americas. Founder Scotto becomes chair of a new supervisory board to “facilitate the company’s transition”.
Scotto called Ardian’s entry “a new dimension” for the business, adding that the additional resources will allow Akuo to pursue its goals “calmly and confidently”.
The transaction was first announced in March and completed on 4 July.