Macquarie fund negotiating buy of French solar firm Apex Energies

Image by @Apex_Energies on Twitter

November 19 (Renewables Now) - Macquarie Group Ltd’s (ASX:MQG) Macquarie Asset Management today said it has started exclusive talks to acquire 90% of Apex Energies Group, a French solar platform that currently operates 530 sites totalling 92 MW of installed capacity.

Apex Energies, which develops, finances, builds and operates rooftop and ground-mounted solar systems across France, also has a 2.2-GW development pipeline. In addition, through subsidiaries, the company provides energy efficiency services and renewables monitoring technology.

The deal, expected to close by the first quarter of 2022, would see Macquarie Green Investment Group Renewable Energy Fund 2 acquire the 90% equity stake from a consortium of investors. This would be the fund’s third investment after the acquisition of 50% of a 268-MW rooftop solar portfolio in the US and a 10% stake in the 576-MW Gwynt y Mor offshore wind farm in the UK.

Financial details are not being disclosed.

“Apex Energies Group has developed a rapidly growing base of operational solar assets across France and aims to secure 1 GW of project capacity by 2025,” commented Stephane Brimont of Macquarie Asset Management.

“With Macquarie’s support, Apex Energies will become a top independent solar power producer in France – both in the rooftop segment where the company is already a market leader, and in ground mounted solar plants, as well as the energy self-consumption sector,” stated Apex Energies president Pascal Marguet.

According to the announcement, Apex Energies’ growth prospects benefit from France’s National Energy Plan to add 30 GW of solar capacity by 2028 and its 2050 net zero commitment.

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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