November 29 (Renewables Now) - Colam Entreprendre, the family-owned holding company of electrical equipment distributor Sonepar, has bought a stake in French renewable power producer Akuo Energy, the latter announced on Tuesday.
Colam is now replacing Akuo Energy’s longstanding stakeholder Cogepa, according to the press release, which did not give information about the size of the acquired stake or the value of the transaction.
Les Echos, though, says that Colam has taken a one-third interest in the renewables firm through a capital hike.
In its statement, Akuo Energy said that the move will provide the company with the needed capital to meet its development challenges. Eric Scotto, president of Akuo Energy, told the French daily that Cogepa no longer has the means to support the business.
Akuo Energy’s portfolio includes solar power stations, wind parks, biomass and small hydroelectric facilities. At the end of 2016, it had 1,100 MW of capacity in operation, under construction or with financing underway.