Voltalia closes acquisition of Martifer Solar

French renewable power plants operator Voltalia SA (EPA:VLTS) on Friday said it closed the acquisition of the solar business of Portuguese construction company Martifer SGPS SA (ELI:MAR).

The EUR 9 million (USD 9.9m) cash offer was announced in June.

Voltalia has acquired Martifer Solar’s development, construction and operation and maintenance activities, thus multiplying by a factor of 2.4 the capacity under management. The French company went from operating 418 MW to managing over 1,000 MW, of which 376 MW of installed capacity for its own account and 627 MW under management for third-party clients.

"This acquisition strengthens our capabilities in the solar power segment - the fastest growing renewable energy business these days," Voltalia CEO Sebastien Clerc, commented.

The deal contributed significantly to the diversification of both the international footprint and energy mix of Voltalia, and also added the complementary operation and maintenance (O&M) services for third-party clients.

(EUR 1 = USD 1.100)

Choose your newsletter by Renewables Now. Join for free!