Eiffage Concessions, a unit of Eiffage, has acquired a 75% stake in Sun’R.
From pv magazine France
Eiffage, a French construction contractor, has revealed that its Eiffage Concessions unit has finalized the acquisition of a 75% stake in French solar developer Sun’R. It did not disclose the financial terms of the deal.
Sun’R founder Antoine Nogier will work with the management team and will maintain a share of the company’s capital.
“This merger is a great opportunity for the Sun’R group to change scale while maintaining our agility and the distinctive positioning of our three activities,” said Nogier.
Sun’R, which was established in 2007, generates approximately 80% of its turnover from the production of solar electricity. It has already 100 MW of photovoltaic assets in operation and around 300 MW under development in France and other countries. It also develops agrivoltaic projects in cooperation with its Sun’Agri unit and provides green electricity through its Volterres subsidiary.
“Eiffage Concessions wishes to capitalize on the expertise of the management of the teams of the Sun’R group to accelerate its development in territorial renewable energy and continue to innovate to meet the challenges of territorial transitions,” said Cécile Cambier, the director of Eiffage Concessions.
This post appeared first on PV Magazine.