Private equity firm Ardian is reportedly in advanced discussions regarding a potential acquisition of French renewable power producer and developer Akuo, with a deal valuation of about $2.5 billion (EUR 2.31 billion), including debt, according to Bloomberg.
Sources indicate that Ardian has commenced due diligence on Akuo, and a final agreement may be reached as early as December. However, insiders caution that the deal remains uncertain.
Akuo specializes in solar, wind, and energy storage, boasting a portfolio of over 1.8 GW of power in operation and under construction worldwide as of January. In early October, the company initiated a crowdfunding campaign to expand its recently inaugurated Santas solar farm in Portugal’s Alentejo region to a capacity of 225 MWp.
Founded in 2007 by Eric Scotto and Patrice Lucas, the Paris-based firm is backed by ICG Infra, the infrastructure fund managed by Intermediate Capital Group (ICG).
