Eurazeo acquires 80% stake in Ikaros Solar


From pv magazine France

French investment firm Eurazeo has agreed to acquire an 80% stake in Belgian solar installer Ikaros Solar from Omnes Capital and the company's founders.

The financial terms of the transaction were not disclosed. Eurazeo said, however, that the deal is its first investment in the energy and digital transition sector for the decarbonization of the economy, a segment in which it plans to invest up to €45 million.

Ikaros Solar develops, builds, owns, and operates rooftop and ground-mounted solar PV power plants in Benelux, France, Portugal, and the United Kingdom. The company has already installed more than 200MW and has a pipeline of some 300MW of additional projects in development.

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“In collaboration with Eurazeo SE, we will strengthen our development activity in order to deliver the pipeline in the years to come,” said Ikaros Solar CEO, Yves Devis. “The synergy with our expertise in PV system construction enables optimal value creation.”

Eurazeo wants to make Ikaros Solar a major player on a European scale by providing it with growth capital. The development of its pipeline and projects will be accompanied by targeted acquisitions, led by Eurazeo, which will give it access “to a vast network of companies as well as internal project structuring and financing capacities.”

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