Altarea has completed the acquisition of Prejeance Industrial (PI) from the Spanish group Repsol, enhancing its photovoltaic installation development platform in France. This strategic move aligns with the Group’s new activities segment, launched in 2023.
Founded in 2019, Prejeance Industrial specializes in small to medium-sized rooftop photovoltaic projects (100 to 500 kWp), primarily on agricultural sheds. The company’s experienced team of 18 employees manages the entire solar power project lifecycle, including development, construction, asset management, and financing/refinancing. These installations offer renewable energy solutions and provide farmers with additional income and agricultural equipment at no extra cost.
As of June 2024, PI owns and operates over 42 MWp of installed capacity in France and is developing a project pipeline nearing 400 MWp, including 41 MWp under construction. The acquisition investment amounts to approximately €140 million, which includes €25 million of goodwill and €115 million for solar power plants in various stages of operation, construction, or development.
PI will be consolidated into Altarea’s accounts starting from the second half of 2024, marking a significant expansion in the Group’s renewable energy portfolio.
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