Private equity firm Ardian has reached an agreement to acquire renewable energy company Akuo.
Ardian will support Akuo in its next phase of growth, providing financing for the independent power producer’s renewable energy projects.
A specialist in wind power, photovoltaics and storage, Akuo is present in a dozen key markets in Europe and on both American continents.
With a portfolio of projects under development, Akuo aims to reach 5GW in production and storage capacity by 2030.
Ardian’s co-head of Infrastructure Europe Benoit Gaillochet said: “We are proud to be able to support Akuo in the next phase of its development.
“This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialisation and growth as part of the energy transition.”
Co-founder of Akuo Eric Scotto said: “This acquisition is an excellent opportunity for Akuo, which will benefit from Ardian as a long-term partner to support its next phase of growth.
“It will enable Akuo not only to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges.”
Ardian has been investing in renewable energies since 2007. Through Ardian’s infrastructure funds, the team already manages over 8GW of thermal and renewable energy capacity in Europe and the Americas and has more than $35bn under management.
The latest transaction remains subject to the legal information and consultation process towards the relevant employee representative bodies, and to the authorisation of the relevant regulatory authorities.