- Press Releases
July 28 (Renewables Now) - Private investment house Ardian has agreed to buy a majority stake in French decentralised energy specialist GreenYellow in a deal that values the company at about EUR 1.4 billion (USD 1.42bn).
Ardian said it has entered into an agreement with existing shareholders of GreenYellow, namely Groupe Casino, which founded the target in 2007, as well as Bpifrance and Tikehau Capital. All three sellers will reinvest a portion of their proceeds in GreenYellow, according to the press statement.
GreenYellow offers solar power solutions to businesses and institutions. It designs the projects and then handles their financing, construction and operation over time. Moreover, GreenYellow develops custom projects for electric vehicle (EV) charging and finances energy renovations. The company operates in more than 15 countries on four continents.
Earlier this month, a subsidiary of GreenYellow inaugurated a 30-MWp solar photovoltaic (PV) power plant in Nagreongo, Burkina Faso. A couple of days before that, the company signed four concession agreements with the Beninese authorities for the development, financing, construction and operation of solar PV plants totalling 50 MW.
Ardian said it will rely on its own experience and expertise in the renewable energy sector to provide GreenYellow and its management team with the needed resources to grow.
The transaction requires consultation with the relevant employee representative bodies along with regulatory clearance and is expected to close in the final quarter of 2022.
(EUR 1 = USD 1.015)