Private equity firm Ardian has signed an agreement to acquire Akuo, a French renewable energy producer, for an undisclosed amount.
Set up in 2007 and backed by ICG since 2022, Akuo specialises in wind power, photovoltaics and energy storage.
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Ardian plans to utilise its expertise in the renewable energy sector to support Akuo in achieving its growth objectives.
Akuo operates in many key markets across Europe and the Americas, focusing on local energy sources that contribute to decarbonisation and energy independence.
Its production and storage capacity is projected to reach 5GW by 2030 from 1.9GW by the end of 2024, supported by a portfolio of projects under development.
Ardian also plans to provide the necessary financial capacity to support Akuo’s renewable energy projects.
Ardian co-head of infrastructure Europe Benoît Gaillochet stated: “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 industrialisation and growth as part of the energy transition.”
The private equity firm has been investing in renewable energies since 2007 and via its infrastructure funds now manages more than 8GW of thermal and renewable energy capacity in Europe and the Americas, with $35bn under management.
The transaction is subject to the legal information and consultation process with relevant employee representative bodies and requires authorisation from regulatory authorities.
Akuo co-founder Éric Scotto stated: “This acquisition is an excellent opportunity for Akuo, which will benefit from Ardian as a long-term partner to support its next phase of growth. It will enable Akuo not only to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges.
“Ardian is the ideal partner to continue the groundwork begun over 16 years ago by dedicated and committed teams. I would like to express my pride and gratitude to all the employees who have helped build what Akuo has become: a group of such quality is the fruit of the work of men and women who have pooled the best of themselves.”
In 2024 Ardian and Spanish renewable energy company Solarpack dissolved their joint venture, which owned 89.3MW of solar plants in Latin America.
Ardian then took full ownership of three solar plants in Chile totalling 26.5MW and the 22.2MW Tacna solar plant in Peru.
