Valorem has received a firm offer to raise €200 million from a consortium consisting of AIP Management and IDIA, joining existing investors GSO, IRDI, and Bpifrance through its France Investissement Energie Environnement 2 fund. In the transaction, 3i Infrastructure will sell its stake in the company.
Over the past eight years, Valorem has increased its installed capacity fivefold, building a project portfolio of 6.6 GW. AIP's relationship with Valorem began in 2022 with the financing of the Maatkusaari wind farm in Finland. AIP's decision to invest is in line with its strategy to “capitalise on the strong fundamentals of the market” and support companies with solid positioning and a proven track record.
The deal allows Valorem to remain an independent French power producer (IPP), as its founders, families, and employees will retain the majority of the company's capital and voting rights.
In a joint statement, Valorem Chairman Jean-Yves Grandidier and Pierre Girard, Chairman of the Supervisory Board, said: “We are delighted that AIP is joining us as a strategic partner. Its extensive expertise in the field of renewable energies and its solid reputation as a reliable and supportive partner make it an ideal partner for Valorem. As a company with a mission, the selection of new partners must be consistent with our values and our vision of the development of green energy. This new chapter will enable the Group to pursue its development ambitions. We look forward to leveraging AIP's knowledge and experience in the European renewable energy market to continue to develop our projects and drive the energy transition forward.”
The transaction is expected to be finalized in the first quarter of 2025 after the necessary regulatory approvals and consultation with Valorem's representative bodies.
