L R AS Published on Sunday 19 November 2023 - n° 466 - Categories:French companies
Engie sells its stake in Reservoir Sun, which becomes a wholly-owned subsidiary of GreenYellow
Engie sells its stake in Reservoir Sun, a specialist in solar self-consumption, which becomes a 100% subsidiary of GreenYellow.
Reservoir Sun specialises in tertiary & industrial projects and for local authorities, and has installed capacity or capacity under advanced construction that will exceed 150 MWp.
for 350 installations by the end of 2023, and has a project pipeline of 1.2 GW. The company is expected to generate sales of €30 million in 2024. The company has been valued at €250 million.
GreenYellow, which has been part of Ardaian's Infrastructure portfolio since October 2022, is part of an acquisition drive to accelerate its expansion in the European market. Further acquisitions are planned in Portugal and Spain.
Engie will be stepping up its expansion in decentralised solar power and storage.
According to Xerfi, self-consumption by businesses, which was almost non-existent until 2022, should double by 2025, then almost triple between 2025 and 2030 "with 23,000 units installed". This market is set to grow as a result of the expected rise in the price of electricity, as well as regulations requiring tertiary and industrial buildings over 500 m² to be solarised, and the obligation to install car park shading systems with a surface area of over 1,500 m².
PV Magazine of 17 November