Axpo in exclusive talks to buy French PV firm Urbasolar

Solar power plant. Source: Urbasolar

April 19 (Renewables Now) - Swiss energy trader Axpo Holding AG plans to acquire French photovoltaic (PV) company Urbasolar, which has a 1-GW-plus development pipeline.

Axpo said in a statement on Thursday that Urbasolar’s owners had picked the Swiss utility from a field of high-ranking bidders in an extensive selection process. The parties are now holding exclusive talks, whilst Urbasolar’s employee representatives are being consulted.

Since its inception in 2006, Urbasolar has installed a total of 367 PV plants totalling 240 MW. In addition to building and selling such facilities, the company also offers services in the area of repair, maintenance and asset management. Currently, it employs 150 people.

Last month, Urbasolar was awarded 127 MW in new projects from the CRE4.5 Ground-mounted and Parking Canopy call for offers.

Axpo noted that it is looking to take over the French firm in order to further grow its position in the area of renewable energies.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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