French renewable energy developer, Akuo, has reportedly attracted interest from several entities, including TotalEnergies' investment unit, as it seeks to sell the company. Akuo had previously announced its search for a strategic partner earlier this year, and hired three banks, Nomura, Rothschild & Co, and Natixis Partners, to assess potential takeover offers. According to a report from L'Informé, investment funds and other entities have expressed interest in the acquisition.
Akuo's founders had earlier announced their search for financing to develop a 20 GW renewable energy project portfolio. To assist in this process, the company engaged three banks to evaluate potential takeover offers and their strategic value.
TotalEnergies, with its significant financial strength and established position in the energy market, is reportedly well-positioned to complete this acquisition, which is estimated to be valued at around €2 billion by Akuo. This acquisition would significantly expand TotalEnergies' renewable portfolio, which stood at 1.6 GW of operational capacity in January 2023, primarily through external growth.
The renewable energy sector is rapidly expanding, with companies seeking to invest in the development and acquisition of renewable energy projects. The interest in Akuo highlights the growing demand for sustainable and renewable energy sources and the attractiveness of the sector for investors.
