French private equity firm Ardian has finalized its acquisition of 100% ownership of renewables developer Akuo and named former EDF Renewables executive Bruno Bensasson as chief executive.
The transaction involved the purchase of stakes held by Akuo’s founders Eric Scotto and Patrice Lucas, as well as investment firm ICG, giving Ardian full control over the wind and solar operator with an installed capacity of 1.9 gigawatts (GW).
Ardian said the acquisition will provide “the financial means needed to continue implementing Akuo’s acceleration strategy,” which targets increasing operational and under-construction capacity to 5 GW by 2030, up from the current 1.9 GW.
Bensasson, who assumed his role immediately, said he was “proud and enthusiastic” to lead the company and “convinced we will be able to accelerate profitable growth” with Ardian’s support.
Akuo, employing around 450 people, plans to focus its 10 GW project pipeline primarily on Europe and the Americas. Founder Eric Scotto will serve as chair of a newly formed supervisory board to oversee the company’s transition.
Scotto described Ardian’s entry as “a new dimension” for Akuo and said the additional resources would enable the company to pursue its growth objectives “calmly and confidently.”
The deal, first announced in March, was completed on July 4.
