Global investor Eurazeo has acquired an 80% equity interest in Belgian company Ikaros Solar from its founders and Capenergie 2, a fund managed by Omnes Capital.
Ikaros Solar is the first investment of Eurazeo’s infrastructure team in line with its mandate to invest in the energy and digital transition and contribute to a low-carbon and sustainable economy.
Eurazeo has committed to invest up to €45m.
Ikaros Solar develops, builds, owns and operates rooftop and ground mounted solar PV power plants across Benelux, France, Portugal and the UK.
The company has installed over 200MW and has an additional 300MW development pipeline.
Eurazeo said it will support Ikaros Solar in becoming a European independent power producer by providing growth capital and through bolt-on acquisitions, access to a corporate network and in-house project and finance structuring capabilities.
Ikaros Solar chief executive Yves Devis said: “Together with Eurazeo we will boost our development activity to deliver the pipeline in the coming years.
“Synergy with our PV construction expertise is enabling optimal value creation on a variety of opportunities. We are paving the road towards an efficient European energy transition.”
Eurazeo managing director Martin Sichelkow said: “We are thrilled to announce our first investment in a sub sector of the energy transition that sits at the heart of our mandate, namely distributed renewable energy generation.
“Ikaros Solar portrays strong intrinsic ESG features and supports the transition towards a low carbon economy – a key pillar of Eurazeo’s new sustainable infrastructure strategy.”