Private equity firm Ardian agrees to take over Akuo

Global private equity firm Ardian reached an agreement to acquire France-based independent renewable energy producer Akuo.

Akuo, controlled by alternative asset manager ICG, is opening a new chapter under private equity firm Ardian, headquartered in Paris. Founded in 2007 in France, Akuo specializes in wind power, storage and photovoltaics, including agrisolar and floating solar power plants. It has more than 2 GW of assets in operation and under construction or shovel-ready projects across more than 20 countries worldwide.

Ardian agreed to take over Akuo for an undisclosed sum, “subject to the legal information and consultation process towards the relevant employee representative bodies” and pending regulatory clearance, according to the announcement.

“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,”​ said Ardian’s Co-Head of Infrastructure Europe Benoît Gaillochet. The company stressed it would capitalize on Akuo’s solid fundamentals to pursue growth ambitions and that it would provide the necessary financial capacity for its projects.

Ardian said it would provide the necessary financial capacity for Akuo’s projects

The acquisition will enable Akuo to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges, its Co-Founder Éric Scotto asserted. The French company has over 12 GW in its project pipeline. Akuo said it aims to reach 5 GW by 2030 in production and storage capacity.

In the region that Balkan Green Energy News covers, the company is active in North Macedonia, Bulgaria, Serbia, Montenegro, Greece, Croatia and Bosnia and Herzegovina.

“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,” said Managing Director of ICG Infrastructure Strategy Pénélope Dietsch.

Through its infrastructure funds, Ardian manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas and has more than USD 35 billion under management. Overall, it manages or advises USD 177 billion of assets on behalf of more than 1,850 clients globally. It has more than 1,050 employees in 20 offices n Europe, the Americas, Asia and Middle East.