October 15 (Renewables Now) - Decentralised solar photovoltaic (PV) projects developer GreenYellow is raising EUR 150 million (USD 174m) from new investors to step up growth in all of its markets in France and abroad.
It was announced on Friday that asset manager Tikehau Capital and investment bank Bpifrance will buy a combined 24% stake in the business via a capital hike.
GreenYellow offers business-to-business (B2B) energy supply services. It has developed over 150 decentralised PV projects with a combined capacity of around 190 MWp and operates more than 1,500 energy efficiency contracts with its parent -- French retail group Casino Guichard Perrachon SA (EPA:CO) -- and third-party customers. The firm counts France, Brazil and Colombia as its main markets and is working to grow in Asia and Africa.
“The support and the trust of our two new shareholders will enable us to pursue and accelerate our development, and to accompany more clients in their energy transition,” stated Otmane Hajji, CEO of GreenYellow.
The transaction is expected to close by December 2018.
(EUR 1.0 = USD 1.159)