Q Energy has entered into an agreement with Velto Renewables, allowing the latter to acquire a portfolio of large-scale renewable energy projects across Europe. This partnership marks a significant step in Velto’s expansion into the renewable energy sector.
As part of the agreement, Velto, backed by Canadian institutional investor CDPQ, has completed the acquisition of a portfolio consisting of five solar and wind projects in France. These projects have a combined capacity of nearly 130 MW and are currently being developed and constructed by Q Energy.
The initial portfolio includes two solar, two wind, and one floating solar project, with the latter being located at the Les Ilots Blandin site. The solar farm will be developed on industrial water ponds. These five projects are expected to begin commercial operations gradually between spring 2025 and early 2026.
The partners are also planning to complete a further transaction for a 400 MW portfolio located in Spain and Portugal in the coming weeks.
Lucas de Haro, CEO of Velto Renewables, remarked, “This investment, in partnership with Q Energy, marks a significant step forward in Velto’s strategic growth. In addition to tripling our energy capacity, the development aligns with our vision to diversify our technological scope and expand our geographical footprint across Europe.”
Junu Lee, CEO of Q Energy, added, “This significant partnership with Velto, backed by a leading global infrastructure investor like CDPQ, is a testament to Q Energy’s sustainability, innovation, and excellence in renewable energy. It reinforces our position as a trusted leader in the industry, proving that our high-quality solutions continue to attract top-tier partners who share our vision for a cleaner, more sustainable future.
