Weinberg Capital bets on French PV developer Orion Energies
France-based private equity firm Weinberg Capital Partners announced it has taken a minority stake in local independent solar energy developer and producer Orion Energies with a commitment to help the company accelerate its growth.
The size of the acquired shareholding and the value of the deal were kept under wraps.
Orion develops, finances, builds and operates intermediate-sized roof and ground-mounted projects with a focus on abandoned or degraded land. Its portfolio includes 150 MW in operation and more than 170 MW under development, according to the company's website.
Founded by brothers Augustin and Hadrien Clement-Fromentel in 2009, the French firm operates more than 150 power plants across France and has nearly 40 employees based in Paris and Lyon.
The transaction marks the fifth investment of the private equity firm’s WCP Impact Dev #1 fund which supports companies with a positive impact from an environmental and a social standpoint.