France-based private equity company Ardian Infrastructure has agreed to acquire French independent power producer Akuo for an undisclosed sum.
“Thanks to its entrepreneurial spirit and constant commitment to innovation, Akuo’s production and storage capacity is expected to reach 1.9 GW by the end of 2024, with aims to reach 5 GW by 2030,” Ardian said in a statement, noting that the transaction must be approved by relevant regulatory authorities.
“Founded in 2007, and backed by ICG since 2022, Akuo has become a major player in renewable energy production,” it added, without providing further details.
London-based asset manager ICG agreed to acquire a 96% stake in Akuo in 2022.
In July 2022, Ardian agreed to acquire a majority stake in Groupe Casino's renewable energy unit, GreenYellow. At the time, GreenYellow's value was estimated at around €1.4 billion ($1.51 billion). Prior to the transaction, Groupe Casino held a 72.3% stake in GreenYellow, while the remaining share was owned by French public investment bank Bpifrance and Paris-based asset manager Tikehau Capital.
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