Engie to buy French solar and wind power producer Langa Group
Solairedirect solar farm in France. Source: Engie
French electric utility Engie SA (EPA:ENGI) announced on Wednesday it will acquire Brittany-based renewable energy producer Langa Group to consolidate its position in local wind and solar energy.
The business being bought produces energy from solar, wind, biogas and biomass plants, and is involved in the entire value chain of its projects. Its portfolio of operating assets is expected to reach 215 MW of installed capacity by the end of the year, including 165 MW of solar power and 39 MW of wind energy.
Langa Group is also developing 1.3 GW of projects that could be finalised by 2022.
“The clarity and determination shown through the acquisition proposal as well as the business proposal put forward by ENGIE were key factors in the decision of the shareholders of the group to project LANGA into the future,” commented Gilles Lebreux, founder and CEO of the Langa group.
Engie noted it targets developing nearly 3 GW of wind and almost 2.2 GW of solar by 2021.