French solar developer Mozaik Energies has sold a 20% stake in the business to pan-European investment platform Galileo.
The move comes as the pair plan to jointly develop a pipeline of projects and to deploy several financial instruments to support the long-term growth trajectory of Mosaik Energies.
It is the first transaction of this type for Galileo in France, extending its European footprint as part of its goal to become a key player in the renewable energy sector at European level.
The two partners are joining forces to promote the diversification of the electricity mix, to support the country’s strategy to move towards higher levels of energy independency, and to reduce electricity costs for the consumers.
Mozaik Energies and Galileo have the ambition to develop, build, and operate a pipeline of utility-scale ground-based PV plants at a national scale, with a specific focus on the Northern parts of France.