InfraVia Capital Partners and Eurazeo have agreed to sell Reden Solar to a consortium led by Macquarie Asset Management. The solar developer was purchased for €2.5 billion by Macquarie, British Columbia Investment Management Corporation (BCI), and MEAG.
With a 762MW operational portfolio and a 15GW development pipeline, Reden Solar designs, finances, builds, and runs solar power projects in Europe and Latin America. Reden Solar, based near Toulouse, has a strong presence in its key markets of France and Spain, and has lately expanded into Greece and Italy. The purchase is expected to close in the third quarter of 2022.
According to Thierry Carcel, CEO of Reden Solar, “We are delighted to have Macquarie, BCI and MEAG support the next phase of our growth ambitions.”
“Our business is continually evolving from predominantly rooftop solar, into ground mounted and agrivoltaic projects.”
“With the backing of our new shareholders, we look forward to expanding Reden Solar’s presence in existing and new markets, as well as developing our teams on the ground.”
Macquarie Asset Management’s Head of France, Benelux, and Greece, Stéphane Brimont, added: “Reden Solar’s geographically diverse platform provides an exceptional opportunity to scale up its development pipeline to help meet net zero targets across Europe.”
“Their management team has a proven track record of developing projects in core as well as new European markets. We are excited to support them over the long-term as they build out their business and maximise their contributions towards the low-carbon transition.”