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Green energy: Voltalia triple in size through acquisition

Green energy: Voltalia triple in size through acquisition


Nothing stops more Voltalia. While SMEs in the Mulliez family in green energy already accused sustained development, it still accelerates with the acquisition of the Portuguese company Martifer Solar, specializing in solar. An acquisition to 9 million, that Voltalia fund its own funds, which will enable it to add to its 58.1 million of turnover (in 2015), the 142 million generated by Martifer Solar .

“This is for us a real transformation process,” explains Sébastien Clerc, CEO of Voltalia. With Martifer Solar, which employs 265 people, the French company will pass this year heading the operation gigawatt (including 475 MW owned) and add 1,343 GW to its portfolio of projects under development, bringing it to about 3 GW.

Until now very focused on wind energy in Brazil, which represented 80% of its portfolio, Voltalia also goes through this acquisition to accelerate its diversification: based near Porto, Martifer Solar is exclusively specialized in solar and active in nearly 20 countries (with parks in Chile, Mexico, the UK and Italy, and projects in Egypt or Kenya, for example). “We are specifically looking to establish ourselves in new countries,” notes Sébastien Clerc. Voltalia was also in this light Friday the acquisition of a small company in Morocco, Alterrya, with a portfolio of projects in exploration and development of 285 MW.

relatively low profitability

Finally, Martifer Solar will enable Voltalia significantly change its business model. While French society remains largely owner parks it develops, builds, and operates, Martifer Solar makes the same trades on behalf of third parties. “Our revenues come from the sale of electricity, those of Martifer Solar in the resale of projects and of services for the construction and operation and maintenance,” explains Sébastien Clerc.

The leader account restore profitability of Martifer Solar, quite low (2.1 million of EBITDA against 30 million for Voltalia). Part of the difference is related to the nature of its business, very little capital. But the company also suffered difficulties of its parent company, the Portuguese group Martifer metal construction. In a financial restructuring, it has not given its subsidiary the means necessary for its development. Some projects in the United States in particular had to be abandoned, causing heavy losses: their prior disposal is now a suspensive conditions for the acquisition of Martifer Solar by Voltalia.

Anand Gupta Editor - EQ Int'l Media Network


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