Ardian, a private equity firm, has reached an agreement to acquire Akuo, a leading independent power producer specializing in renewable energy.
This acquisition is expected to help Ardian gain expertise in the renewable energy sector, supporting Akuo in its next phase of growth. Ardian also plans to provide the necessary financial capacity for Akuo’s various renewable energy projects.
“We are proud to be able to support Akuo in the next phase of its development. This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialization and growth as part of the energy transition.” Benoît Gaillochet, Co-Head of Infrastructure Europe, Ardian.
Akuo’s production and storage capacity is expected to reach 1.9 GW by the end of 2024, with an aim to reach 5 GW by 2030.
“We are delighted to have been able to contribute to the success of Akuo and its teams in recent years. Akuo has demonstrated its pioneering position in the development of renewable energy. We are convinced that Ardian will provide the necessary resources to further strengthen the group’s positions and accelerate its growth.” Pénélope Dietsch, Managing Director, ICG Infrastructure Strategy.
The transaction is still subject to the legal information and consultation process with the relevant employee representative bodies, as well as the authorization of the appropriate regulatory authorities.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, M&A activity was 15% lower year-over-year in 2024, with 82 corporate M&A transactions compared to 96 in 2023.
Recently, Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, announced it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, through its TPG Rise Climate transition infrastructure strategy for $5 per share of its Class A common stock. The all-cash transaction values the company at approximately $2.2 billion.
