May 23 (Renewables Now) - French renewable power producer Voltalia SA (EPA:VLTSA) is exclusively negotiating the acquisition of solar and energy efficiency firm Helexia.
Voltalia is looking to buy Helexia from the Mulliez family-backed investor Creadev, which is also Voltalia’s own majority shareholder. The planned acquisition aligns with a strategy to build a platform in Europe and emerging countries to offer cheap renewable electricity via corporate power purchase agreements (PPAs). The goal is to establish a green energy one-stop-shop for corporates.
Helexia develops, builds and operates solar projects for large corporations. It manages 222 rooftop photovoltaic (PV) installations in France, Belgium, Italy and Portugal, with 51.4 MW of installed capacity and 7.5 MW currently under construction. About 35% of its systems are deployed on the roofs of retailers controlled by the Mulliez family.
In 2018, Helexia’s revenues amounted to EUR 14 million (USD 15.6m), with an EBITDA margin of 49%.
A deal is expected to be signed in the third quarter of 2019.
(EUR 1.0 = USD 1.113)