French real estate investor Altarea SCA has finalized the purchase of Prejeance Industrial from Spanish energy group Repsol SA , strengthening its foothold in the rooftop solar market across France.
The acquisition aligns with Altarea's strategic expansion into new activities, particularly in solar development. Prejeance Industrial specializes in developing small to medium-sized rooftop solar projects, ranging from 100 kWp to 500 kWp, primarily installed on agricultural sheds.
Founded in 2019, Prejeance Industrial manages all aspects of the solar project lifecycle, including development, construction, asset management, financing, and refinancing. The firm currently operates over 42 MWp of installed capacity in France and has a development pipeline nearing 400 MWp, with 41 MWp currently under construction, according to Altarea.
Altarea disclosed an investment of EUR 140 million (USD 151.5 million) in the acquisition, comprising EUR 115 million allocated to the value of operational, developmental, and under-construction solar arrays, and approximately EUR 25 million for associated goodwill.
