Renewable

February 2 (Renewables Now) - Spanish renewables pure-player Acciona Energia (BME:ANE) said on Tuesday it had acquired an 85% stake in French firm Eqinov, a specialist in corporate energy efficiency and energy management services.

Eqinov’s founding partners, Sylvain Lagarde and Natacha Hakwik, will hold a 15% stake following the shake-up and oversee the firm’s management, Acciona Energia said.

The value of the acquisition was not disclosed.

According to the new shareholder, Paris-based Eqinov reported a turnover of EUR 72 million (USD 81.4m) in 2020 and works with a portfolio of over 2,400 clients. The firm provides financing for energy efficiency projects, acts as a flexibility aggregator and a consultancy promoting renewable energy solutions such as solar self-consumption.

The transaction enables Acciona Energia to gain entry into the French market. The company says that Eqinov will boost its growth in France while under its wing and expand its portfolio of renewable energy solutions.

(EUR 1.0 = USD 1.131)

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