Axpo wants to buy French PV developer Urbasolar

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Swiss energy company Axpo wants to expand its renewable energy business through the acquisition of French solar project developer Urbasolar. In a very short press release, the company said it was chosen by Urbasolar’s owners as a preferred acquirer in an extensive selection process from a field of high-ranking bidders.

Axpo also said that Urbasolar has now started a consultation process on the acquisition with its employees, which is mandatory under France’s regulation before the signing of the sale contract. “The two parties have agreed not to disclose any details on the intended purchase,” the Swiss company added.

Axpo is already active in the solar business in Portugal, where it agreed to buy power from a 28.8 MW solar plant in Evora through a bilateral PPA, in Italy, where it granted a 12-year PPA to 300 MW of solar capacity that Danish renewables developer European Energy is working on, Axpo is also currently largest Swiss producer of renewable energies, primarily with domestic hydropower and biomass.

As for Urbasolar, it currently operates approximately 300 MW of PV capacity consisting of around 450 installations. Furthermore, it has a portfolio of PV projects with a capacity of about 850 MW in France and abroad.