Axpo concludes acquisition of French PV firm Urbasolar

Swiss energy trader Axpo Holding AG has received the approval of the French authorities to wrap up its takeover of domestic photovoltaic (PV) company Urbasolar.

As a result, the transaction, which was agreed upon in early May, has now been concluded, Axpo said in a statement on Thursday. The buyer did not reveal the financial terms of the deal.

Montpellier-based Urbasolar current portfolio includes operating PV plants totalling 350 MW as well as a development pipeline exceeding 1,000 MW. The firm also provides repair, maintenance and asset management services.

The French company will be managed by Axpo as an independent subsidiary, with a plan to develop its business model internationally in the upcoming years.

So far, Axpo has so far been active in the renewable energy sector though wind park developer Volkswind.

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