January 13 (Renewables Now) - Terre d’Energie, a renewable power producer that is majority owned by France’s Tenergie SAS, will try to lure investors in 2020 while also expanding and diversifying its platform, an official told Bloomberg.
The news agency cited Tenergie’s executive vice president of finance and M&A, Philippe Rochet, as saying that Terre d’Energie may acquire independent clean power developers as part of its expansion. The firm currently has around 500 MW of installed capacity and is looking to grow in the wind and hydropower sectors.
According to the report, the company wants to remain independent so it will not pursue partnerships with utilities or oil companies.
At present, Tenergie holds a 69% stake in Terre d’Energie, while Credit Agricole Pyrenees Gascogne has the remaining shares. Tenergie will keep the operational control of the venture, but its interest may drop below 50%, Rochet has said.