EURAZEO ACQUIRES MAJORITY STAKE IN IKAROS SOLAR – FIRST INVESTMENT OF ITS INFRASTRUCTURE STRATEGY – EQ Mag Pro
Eurazeo announces the acquisition of an 80% equity interest in Ikaros Solar, a Belgian solar PV company, from its founders and Capenergie 2, a fund managed by Omnes Capital.
Ikaros Solar is the first investment of Eurazeo’s infrastructure team in line with its mandate to invest in the energy and digital transition and contribute to a low-carbon and sustainable economy. Eurazeo has committed to invest up to EUR 45m.
Ikaros Solar develops, builds, owns and operates rooftop and ground mounted solar PV power plants across Benelux, France, Portugal and the UK. The company has a track record of installing
over 200 MWp and has an additional 300 MWp development pipeline.
Eurazeo will support the company in becoming a European independent power producer by providing growth capital to scale the company organically and through bolt-on acquisitions, access
to a wide-ranging corporate network as well as in-house project and finance structuring capabilities.
The build-out of the company’s current development pipeline over the next 6 years will prevent the generation of 1.8 MtCO2e over the lifetime of the assets, equivalent to 3.200 ha of tropical forest protected from deforestation.
Yves Devis, CEO of Ikaros Solar, said:
« Together with Eurazeo SE we will boost our development activity to deliver the pipeline in the coming years. Synergy with our PV construction expertise is enabling optimal value creation on a variety of opportunities. We are paving the road towards an efficient European energy transition»
Martin Sichelkow, Managing Director at Eurazeo, said:
« We are thrilled to announce our first investment in a sub sector of the energy transition that sits at the heart of our mandate, namely distributed renewable energy generation. Ikaros Solar portrays strong intrinsic ESG features and supports the transition towards a low carbon economy – a key pillar of Eurazeo’s new sustainable infrastructure strategy»
Eurazeo is a leading global investment company, with a diversified portfolio of €27 billion in assets under management, including nearly €19.2 billion from third parties, invested in 450 companies. With its considerable private equity, venture capital, private debt as well as real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin, Milan and Madrid.
Eurazeo is listed on Euronext Paris.