Velto Renewables, a renewable power producer backed by investment group CDPQ, has announced a partnership with Q Energy Solutions, a European renewable energy company. Under this agreement, Velto Renewables will acquire a portfolio of renewable energy projects from Q ENERGY across multiple European countries over the coming years.
As the first transaction under this partnership, Velto Renewables has acquired a portfolio of solar and wind projects in France totaling approximately 130 MW.
The portfolio includes five projects, all currently under construction by Q ENERGY in France. It consists of two solar projects, two wind projects, and a floating solar project.
These five projects are expected to reach commercial operation between spring 2025 and early 2026. Once operational, the portfolio will produce renewable-based energy over 210,000 MWh annually.
In the coming weeks, both companies expect to transact additional portfolios with a combined capacity of 400 MW located in Spain and Portugal.
Lucas de Haro, CEO of Velto, said, “This investment, in partnership with Q ENERGY, marks a significant step forward in Velto’s strategic growth. In addition to tripling our energy capacity, the development aligns with our vision to diversify our technological scope and expand our geographical footprint across Europe.”
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
This month, European Energy, a renewable energy project developer, announced that it has entered into an agreement with Energix Group to sell 470 MW of solar and wind capacity in Lithuania.
