October 2024 - Astris advises VALOREM in connection with the sale of a minority stake and a capital raise for a total amount of € 550m

Paris, October 2024. Astris advises VALOREM in connection with the sale of a minority stake and a capital raise for a total amount of € 550m.

Astris Finance congratulates its client VALOREM, an independent French renewable energy developer, who received a firm offer to acquire the stake of 3i Infrastructure fund who entered in VALOREM’s capital 8 years ago. This offer comes from a consortium made up of AIP Management, a Nordic-based investment manager focused on renewable energy and IDIA, Credit Agricole Group’s private equity subsidiary. GSO and IRDI – 2 regional investment funds -, already present in VALOREM’s capital, are taking advantage of the transaction to renew their trust in the firm and its business, alongside Bpifrance.

Over the past 8 years, VALOREM has managed to multiply by 5 its installed capacity and expects to produce 1.5 TWh in 2024; it has developed its international footprint, and its pipeline has reached 6.6 GW.

This capital raise will allow VALOREM to strengthen its development and confirm its positioning as one of the last independent French IPPs in the sector.

The transaction closing is expected in the first quarter of 2025, following the completion of the information and consultation procedure with VALOREM's representative bodies and the obtaining of the necessary regulatory approvals.

Jean-Yves GRANDIDIER, Chairman and Founder of VALOREM, and Pierre GIRARD, Chairman of the Supervisory Board, said: "Our new partners are fully in line with our values and our vision of the development of green energy and this new chapter will enable the Group to pursue its development ambitions and accelerate the energy transition. We are delighted of the way this transaction was handled and would like to thank the Astris team for the instrumental role they played all along the process".

This landmark transaction is another testimony of Astris’s exceptional positioning in the M&A renewable space in Europe. Astris acted as financial co-advisor to VALOREM, alongside BNP Paribas and Lazard.

July 2024 - Astris Advises Amarenco in Setting Up a Strategic Partnership with Banque des Territoires

Paris, July 2024 - Astris Finance congratulates its client Amarenco, a leading, Irish-based solar IPP, for the closing of a long-term partnership agreement with Banque des Territoires, the investment arm of the French State-owned Caisse des Dépôts.

The partnership consists in setting up a joint investment platform named "Valorix Green", owned 51% by Amarenco and 49% by Banque des Territoires. Valorix Green‘s objective is to finance solar projects located in France – both ground-mounted and rooftop, which will represent by 2028 an annual production of more than 730 GWh – i.e. the yearly electricity consumption of c. 300,000 urban dwellers.

Astris acted as exclusive financial advisor to Amarenco.

This closing is another milestone in our longstanding collaboration with Amarenco – whom we currently advise on 3 other mandates - and a testimony of Astris’s premier position in the European renewable sector, where we have closed 6 similar “AssetCo” transactions totaling 8 GW+ of solar and wind projects.

July 2024 - Astris Congratulates its Client Encavis Asset Management AG for the Successful Greenfield Financing of the Second Largest Solar Park in Germany

Paris, July 2024 - Astris Finance Congratulates its Client Encavis Asset Management AG for the Successful Greenfield Financing of the Second Largest Solar Park in Germany.
 
Encavis Asset Management AG (“Encavis AM”) has reached financial close for the Bartow solar project. With a generation capacity of 260 MWp, this will be the second largest facility of its kind in Germany. The project is located about 150 kilometers north of Berlin in the municipality of Bartow (state of Mecklenburg-Vorpommern).

The debt of c. 145 million euros has been provided by Commerzbank, and the equity by Encavis Infrastructure Fund IV (EIF IV), a fund primarily aimed at savings banks and cooperative banks. The construction of the first phase began in March 2024, and completion of the entire project is planned for the second half of 2025. The bulk of the green electricity produced will be sold to LyondellBasell through a 12-year power purchase agreement (PPA).
 
Elisabeth Rabe, Team Lead Investment Structuring at Encavis AM, commented: “We are proud to have launched this major solar project in Germany, which will greatly contribute to the country’s energy transition and further strengthen our position as a leading player in the field of renewable energy. We extend our gratitude to our financial advisor, Astris, for their valuable support in this transaction.”
 
”We are very pleased we advised Encavis AM in connection with the financing of this landmark solar PV project in Germany. The transaction shows the attractiveness of greenfield solar PV assets in Germany, benefitting from a strong corporate PPA framework.” said Arnaud Germain, Astris's partner in charge of France and Germany.
 
This is the fourth successful closing for Astris in Germany over the last 24 months.
 
Astris acted as exclusive financial advisor to Encavis AM.

June 2024 - Astris congratulates its client Urbasolar for the successful closing of a EUR 82m greenfield debt financing of a portfolio of French PV assets

Paris, June 2024 - Astris Finance congratulates its client Urbasolar, the leading French solar power producer owned by Swiss utility Axpo, for the successful closing of a EUR 82m greenfield debt financing of a portfolio of French PV assets.

Project Persei comprises a 86 MWp portfolio of solar assets located in various French regions, featuring mostly 20-year CfD contracts. All these assets are owned 100% by Urbasolar and are expected to be built by the end of 2025. Once operational, the solar plants will generate an annual electricity production of 105 GWh, which is equivalent to the consumption of 22,000 households.
 
The transaction was arranged and fully subscribed by BPI France, Crédit Agricole Transitions & Energies and Caisse Régionale de Crédit Agricole du Languedoc.

This transaction marks our sixth successful closing with Urbasolar in the past five years.

Astris Finance acted as exclusive financial advisor to Urbasolar.

June 2024 - Astris advises Ardian in connection with its acquisition of a majority stake in UNITe, a French independent renewable energy developer and producer

Paris, June 2024. Astris advises Ardian in connection with its acquisition of a majority stake in UNITe, a French independent renewable energy developer and producer.

Astris Finance congratulates its client Ardian, one of the world's leading private equity firms, who has now become the largest shareholder of UNITe, through its Clean Energy Evergreen Fund (ACEEF). This investment strengthens Ardian's renewable energy portfolio in the areas of hydropower, photovoltaic and wind energy. Omnes and Bpifrance who invested in 2018, and Société Générale Capital Partenaires who invested in 2010, have agreed to sell their stake in UNITe to Ardian after successfully achieving the objective of consolidating UNITe as an independent power producer and developer.

UNITe – Hydrowatt (UNITe) group is the leading independent player in small hydropower in France, with 36 power plants, and one of the most promising photovoltaic developers with projects in France with a total capacity of 1.5 GWp expected in the coming years. Ardian's long-term support will allow UNITe to accelerate the implementation of its renewable energy growth strategy.

"The addition of UNITe to Ardian's portfolio is an exceptional opportunity. We are delighted to partner with this historic family business and support the management team in its ambitious growth plan. We would also like to thank the Astris team for the instrumental role they played all along the transaction." Benjamin Kennedy, Managing Director Renewables Infrastructure, Ardian.

This transaction strengthens Astris’s position in the M&A renewable sector in Europe, where it is currently working on 11 live transactions.

Astris acted as exclusive financial advisor to Ardian.

May 2024 - Astris congratulates its client Vinci for its strategic partnership agreement with global renewable energy development platform NatPower

Paris, May 2024. Astris congratulates its client Vinci for its strategic partnership agreement with global renewable energy development platform NatPower, aimed notably at fast-tracking Cobra IS's expansion in the United States.
 
We are happy to announce that Astris advised Vinci SA (“Vinci”), the global player in concessions, energy and construction, in its c. €50 million investment in NatPower SA (“NatPower”), a renewable energy development platform set up in 2019 and principally active in Italy, Great Britain and the United States.
 
The transaction (“Transaction”) encompasses (a) the acquisition of 10% of the company’s share capital from its founder Fabrizio Zago and its financial partner, Tyrus Capital, and (b) the subscription to convertible bonds issued by NatPower to finance its growth, enabling Vinci to increase its stake in NatPower with the option to take control of NatPower over time.
 
The investment will give Vinci access to a number of opportunities in the renewable energy space:

• Under the agreement, Vinci will have a priority right to acquire projects developed by NatPower at ready-to-build stage.

• Alongside the investment, the parties have reached an agreement to jointly develop renewable energy projects (principally onshore wind and solar) in the United States, notably by building up on NatPower's existing project development pipeline, which includes approximately 1.2 GW of capacity plus about 2 GW at the preliminary stage. To this end, a joint venture controlled by Vinci through its subsidiary Cobra IS, will be incorporated in the United States.

• Lastly, leveraging on NatPower's expertise, Vinci will be in a prime position to develop energy storage projects, particularly in Great Britain.

Astris deployed a global team with deep expertise in the Italian, UK and US renewable markets to advise Vinci. This Transaction – our 10th closing in the global renewable energy space this year – is another milestone in our longstanding relationship with the Vinci group.

May 2024 - Astris congratulates its client TSE for the successful c. 50m€ debt financing of a 63 MW ground-mounted PV portfolio located in France

Paris, May 2024 - We are pleased to announce the closing of the Aphaia Finance 1 project in which we assisted TSE, a leading French solar developer, in the c. 50m€ financing of a 63 MW portfolio of three ground-mounted PV assets located in France.

This transaction is the first financing of the 1.6 GW Aphaia platform, set up by TSE in 2021 and where Astris acted as financial advisor. It consisted in designing and establishing a strategic partnership between TSE on the one hand and Banques des Territoires and Credit Mutuel Impact on the other hand, to finance the growth of TSE’s 1 GW+ ground-mounted solar PV platform.

The portfolio revenues are supported by a 20-year Contract for Difference (“CfD”) with EDF for one asset while the other two have secured 20-year corporate PPAs with Agrial (largest french agricultural and agri-food co-op) and bioMérieux (world leader in the field of in vitro diagnostics).

The transaction was arranged by Crédit Agricole Transitions & Energies (“CATE”) and fully subscribed by Credit Agricole group entities (LCL, CA Languedoc, CA Champagne Bourgogne, CA Provence Côte d’Azur).

Astris acted as exclusive financial advisor to TSE. This financing is another milestone in our longstanding collaboration with TSE and an additional greenfield solar PV financing credential in Europe.

April 2024 - Astris congratulates its client Mirova for the successful closing of the acquisition and financing of solar PV/storage assets in Spain

Madrid, April 2024 - Astris Finance congratulates French asset manager Mirova for the successful closing of the acquisition and financing of a portfolio of solar PV and storage assets in the Balearic Islands.
 
This portfolio comprises a solar photovoltaic park with a total capacity of nearly 60 MWp and an additional potential storage capacity of up to 30 MW/120 MWh. The assets, located in the municipality of Mahon on Menorca Island, Spain, were developed by Qualitas Energy and Q-Impact.
 
These renewable energy assets are expected to drive significant change and contribute to shaping a sustainable, greener future in the Balearic Islands.
 
Astris Finance acted as exclusive financial advisor to Mirova, further building on Astris’s strong track record in the renewable sector in Southern Europe and its expansion into the PV/storage sector.

April 2024 - Astris congratulates its client Ze Energie for the successful closing of a EUR 52m debt financing of a PV/storage project located in France

Paris, April 2024 – Astris Finance congratulates its client Ze Energy, a leading French solar power developer and producer, for the successful closing of a EUR 52m greenfield debt financing for the “Vert” project, a hybrid solar/storage plant located in France.

The “Vert” Project consists in a 77 MWp photovoltaic power plant combined with a 15 MW / 33 MWh, lithium-ion battery storage system. Construction started in June 2023 on a 60-acre municipal land located in the Landes department in southwest France, and grid connection is scheduled for Q1 2025. Project revenues are supported by a long-term corporate PPA signed between Ze Energy and Orange France.

Out of a total investment of EUR 84m, Bpi France and Caisse d'Epargne Ile-de-France arranged and financed a senior secured debt facility of EUR 52m.

Astris acted as exclusive financial advisor to Ze Energy.

This closing is another milestone in our fruitful relationship with Ze Energy, as well as a testimony to Astris’s rapid expansion into the European battery storage sector.

April 2024 – Astris congratulates its client See You Sun, a leading French solar PV rooftop developer, for the successful closing of a EUR 46m capital raise.

Paris, April 2024 – Astris Finance congratulates its client See You Sun, a leading French solar PV rooftop developer, for the successful closing of a EUR 46m capital raise.

See You Sun was founded in 2017 by former Langa managers, with the ambition to provide mobility solutions combined with solar PV rooftop projects. The company raised EUR 12m in 2021 to finance the development of the mobility business. In the past 3 years, See You Sun’s solar PV rooftop pipeline (small rooftop with a capacity below 500kwc) increased rapidly thanks to the favorable Feed-in Tariff (FiT) scheme currently in place, as well as a successful partnering strategy with local authorities.

This latest capital raise, secured through a combination of financial instruments, will allow the company to fund its development pace of c. 130MW/year. The raise was subscribed by two existing investors, Caisse des Dépôts et Consignations, the leading French state-owned banking group, and Demeter, a European investor specialized in energy transition.

Astris Finance acted as exclusive financial advisor to See You Sun. This is our third closing in the French PV rooftop sector this year -- and a testimony to our strong M&A sell-side activity in the European renewable energy sector, where we are currently advising on no less than 11 transactions.

March 2024 - Astris congratulates its client Tenergie for the successful closing of a c. EUR 107m debt financing of PV rooftop projects located in France

Paris, March 2024 -  We are very pleased to announce the closing of the Tenfi IV project in which we assisted Tenergie, a French leading IPP and long-standing client of Astris in France, in the c. EUR 107m financing of a French portfolio of 331 solar PV rooftop assets with an individual capacity below 500kWp and an aggregate capacity of c. 85 MWp.

The assets, which benefit from 20y FiTs with EDF and take advantage of an optimized FiT price for small rooftops secured once the grid connection is requested, will reach COD over the next 18 months.
 
The transaction was arranged and financed by Credit Agricole, CIC and BPI France.
 
Astris acted as exclusive financial advisor to Tenergie.
 
This financing is another milestone in our long-standing relationship with Tenergie, and an additional French PV rooftop credential in our extensive track record.

March 2024 - Astris Finance congratulates its client Enfinity Global on the successful holdco financing of a 134 MW solar portfolio in Italy

Madrid, March 2024 - We are pleased to announce the closing of a 7-year €25 million holdco financing to an Enfinity Global assetco, for the construction of a 134 MW solar portfolio in the region of Lazio (Italy). Enfinity Global is a leading renewable energy IPP with presence in the US, Europe and Asia.

The portfolio consists of four large-scale solar power plants currently under construction. It is scheduled to commission progressively starting in Q2 2024. Once operational, the portfolio will generate 225 GWh of clean energy annually, contracted with Statkraft through a 10-year power purchase agreement. This will allow to supply power to 85,000 Italian households while offsetting 91,500 tons of CO2 emissions.

The holdco financing was provided by Sienna Investment Managers, a pan-European multi-expertise asset manager.

Astris Finance acted as exclusive financial advisor to Enfinity Global. This closing is a testimony to Astris’s premier position in renewable energy financings in Europe and to its continuing expansion into the Italian market.

March 2024 - Astris Finance congratulates its clients CIP and Arjun on the successful refinancing of the 487 MW Monegros wind portfolio in Spain

Madrid, March 2024 - We are pleased to announce the closing of a €383.5 million refinancing of a 487MW operational onshore wind portfolio located in Aragon (Spain). Astris advised Danish Copenhagen Infrastructure Partners (“CIP”), one of the world's largest dedicated fund managers in greenfield renewable energy investments with over €25 bn raised, and Arjun Infrastructure Partners (“Arjun”), an independent asset management firm focused on mid-market infrastructure and energy investment, jointly the “Sponsors”.
 
This innovative transaction allowed the Sponsors to improve the existing financing in terms of structure, leverage and cash flow providing long-term stability for this landmark transaction, which involves one of the largest long-term PPAs in Iberia. The financing was provided by a syndicate of seven local and international banks (ABN, BBVA, BNP, Rabobank, Caixabank, Sabadell and Bankinter), showing outstanding market support to the transaction and its Sponsors.

The financing consists of a €331.7 million non-recourse, fully amortizing senior debt facility, €34 million of letter of credit facilities, and a €17.8 million of debt service reserve facility (the “Facilities”). The Facilities are deployed in accordance with the Green Loan Principles.

Astris Finance acted as exclusive financial advisor to CIP and Arjun. This transaction is a testimony to Astris’s position as the lead independent advisor for debt renewable transactions in Iberia, and to the strong relationship forged with top tier players in the renewable space globally.
 
CIP Partner Florian Küster said: ”We would like to thank the lenders and the advisors involved for successfully completing this transaction. The closing of the green loan financing marks another important milestone for our Monegros’s investment which has generated attractive and stable long-term returns for our investors and made a meaningful contribution towards Europe’s green transition.”
 
Arjun Head of Asset Management Julian Skinner said: “We are delighted to have successfully completed this transaction with a strong pool of banks together with our advisors and our long-standing partner CIP. Thank you to all those involved, and we look forward to future collaborations as we work to facilitate the realisation of Europe’s clean energy goals.”

January 2024 - Astris Advises Valeco on the Successful Sale of its Canadian Activities

Toronto and Montreal, January 2024 - Astris Finance is pleased to have advised its client Valeco, a leading French renewable developer, for the successful sale - following a competitive process - of its Canadian activities consisting respectively in (i) Valeco’s interests in Biomont Energie, a biogas cogeneration plant in Montreal and (ii) the wind assets and portfolio of projects under development of its holding company Valeco Énergie Quebec, in two separate transactions.

The first transaction made it possible for Eolectric inc., a Quebec-based renewables energy developer and operator, to increase and consolidate its existing ownership of the 4.8MW Biomont Energie operations through the purchase of Valeco’s interests. The cogeneration plant recuperates biogas from a former landfill site in the St-Michel district in Northern Montreal and sells electricity to Hydro-Quebec and heat and hot water to Cirque du Soleil and Tohu neighbouring operations.  Eolectric inc. was already involved in the Biomont’s ownership through Eolectric Capital inc., a joint venture between Eolectric inc. and Fondaction, one of two Quebec largest labour-sponsored funds.

The second transaction allows Nutrinor-Gilbert Renewable Energies to acquire Valeco's interest in the 6.4 MW Dune-du-Nord wind farm, the only wind operations located in the pristine Iles de la Madeleine in the Gulf of the St-Lawrence, as well as a portfolio of projects at various stages of development. In operation since 2020, the Dune-du-Nord wind farm sells to Hydro-Quebec the energy produced to supply electricity to households and businesses on the islands.

Astris Finance extends its heartfelt congratulations to Valeco and the buyers for these prime acquisitions.

Astris Finance acted as exclusive financial advisor to Valeco.  This is a first transaction for Astris since initiating local market coverage and presence in Canada.  This achievement further strengthens Astris track record in North America where the teams are currently working on 3 live processes and underscores our commitment to delivering exceptional value and excellence on a global scale.

December 2023 - Astris Finance Congratulates Q ENERGY France for the Successful Sale of a 73.2 MWp Solar PV and Wind Portfolio Located in France

Paris, December 2023 - Astris congratulates its client Q ENERGY France (formerly RES France), a leading French developer fully owned by Hanwha Solutions, for the successful sale of a 73.2MW solar PV and wind portfolio (the “Portfolio”) composed of 4 projects located in France. The Portfolio has been acquired by ERG, a leading Italian independent renewable energy producer.

The Portfolio encompasses two operational solar PV farms with a combined installed capacity of 20.4 MWp, a 28.8 MWp solar PV project under construction and a 24 MW wind farm in the final phase of commissioning, following a recent repowering. The total annual estimated energy production of the portfolio stands at around 125 GWh, or the equivalent of 64 kilotons of CO2 emissions avoided.

The two PV plants in operation and the wind farm benefit from a tariff regime supported by a 20-year CfD (contract for difference), while the production of the third solar project will be sold under a 15-year PPA with a leading French retail company. All Portfolio assets will be selling their production on the spot market for a period of up to 18 months from COD before the CfD’s kick in, pursuant to the Emergency Measures announced by the French Government in the course of the summer 2022.

Astris Finance acted as exclusive financial advisor to Q ENERGY France – an engagement that followed the debt raising advisory mandate for the Portfolio successfully closed in May 2023. This achievement further demonstrates Astris’ premier position in the European renewable energy M&A market where Astris is currently handling 11 transactions across 5 countries.

December 2023 - Astris congratulates its client Celeo Redes on the closing of a USD 75m bridge facility to fund a transmission line in Peru

Washington DC, December 2023 - Astris Finance acted as financial advisor to Puerto Maldonado Transmisora De Energía, S.A.C., a wholly owned SPV of the Spanish group Celeo Redes, in the upsizing and extension of the existing bridge facility with DNB Bank. This extension comes on the heels of the recently awarded transmission line project Piura Nueva – Frontera to Celeo in July 2023 by the state-funded ProInversion. This new transmission line will be Celeo’s third project in Peru, alongside the transmission line Puerto Maldonado – Iberia and the Valle del Chira substation; the two original projects for which the existing Bridge Facility was in place.

The upsizing of the Bridge facility increased the total amount to US$75 million. The uses will be meant to cover all necessary development and construction costs for the three transmission assets until long term financing is in place. The Bridge Loan's maturity date was also extended until 2026, to allow additional timing due to the newly awarded Piura Nueva – Frontera project.

New Piura Nueva – Frontera Transmission Line

The Project is part of the “Proyecto Integral de Interconexión Eléctrica Perú-Ecuador”, which will connect substations located in either side of the Peru and Ecuador border. The total length will be 550km: 280km will correspond to Ecuador and 270km to Peru. The Project consists of the second part of the Peruvian section: Substation Piura Nueva–Frontera. The first section: Substation La Niña–Substation Piura Nueva is under construction.

December 2023 - Astris Finance congratulates its client Enfinity Global on the successful financing of a 101 MW solar portfolio in Italy

Madrid, December 2023 - We are pleased to announce the closing of a €118 million financing for the construction of 101 MW in four utility-scale solar power plants located in the region of Lazio (Italy), which are expected to become operational in 2024. Astris has advised Enfinity Global, a leader in renewable energy. The company owns a portfolio of 20 GW of renewable energy and storage projects in different stages of development.

This unique and innovative financing brings several important benefits for Enfinity Global in terms of structure, leverage, and cash flow stability. UniCredit, BayernLB, and Siemens Financial Services through Siemens Bank have acted as mandated lead arrangers for each project financing through a club deal structure. The financing will provide €77 million of non-recourse senior debt, €41 million of VAT financing, and LC facilities for PPAs and PV modules.

Astris Finance acted as exclusive financial advisor to Enfinity Global Inc. This closing is a testimony of both Astris’ premier position in renewable energy financings in Europe and its successful expansion into the Italian market.

December 2023 - Astris Advises Valorem in Setting Up a Strategic Partnership with Banque des Territoires

Paris, December 2023 - Astris Finance congratulates its client VALOREM, a leading French independent renewable energy producer, for the closing of a long-term partnership agreement with Banque des Territoires, the investment arm of State-owned Caisse des Dépôts.

The partnership consists in setting up a joint investment platform named "Calypso", owned 51% by VALOREM and 49% by Banque des Territoires. Calypso‘s initial objective is to invest in a 500 MW portfolio of solar and wind power assets in France by 2027, representing an annual production of more than 1.1 TWh – i.e., the yearly electricity consumption of c. 500,000 urban dwellers.

Arnaud Germain, co-head of Europe at Astris, said: “This project is a great achievement for our client VALOREM, completed just before year-end! We would like to thank VALOREM’s CEO Jean-Yves Grandidier and his team for their continuing trust in Astris.”

Astris acted as exclusive financial advisor to VALOREM. This landmark transaction further demonstrates Astris’s premier position in the European renewable sector, where we have closed 5 similar AssetCo transactions totaling 7 GW+ of solar and wind projects.

October 2023 - Astris congratulates its client Urbasolar, the leading French solar power producer owned by Swiss utility Axpo, for the successful closing of a c. EUR 140m greenfield debt financing

October 2023 - Astris Finance congratulates its client Urbasolar, the leading French solar power producer owned by Swiss utility Axpo, for the successful closing of a c. EUR 140m greenfield debt financing.

Project Galilée comprises a c. 170 MWp portfolio of solar assets in France, featuring either 20-year CfD contracts or 15-year CPPA contracts. All these assets are owned 100% by Urbasolar and are still under construction.
 
The signing of the financing facilities occurred in June 2023.

This transaction, on which Astris Finance acted as exclusive financial advisor, marks our fifth successful closing with Urbasolar in the past four years. Additionally, we are currently advising Urbasolar on transactions located in France, Poland, Spain, and the Dominican Republic.

September 2023 - Astris advises ICG in connection with its €400 million investment in Enfinity Global, the fast-growing global renewable energy development platform

Washington DC, September 2023. Astris advises ICG in connection with its €400 million investment in Enfinity Global, the fast-growing global renewable energy development platform.

Astris Finance congratulates its client Intermediate Capital Group (“ICG”), the global alternative asset manager, for the signing of a definitive agreement to invest in Enfinity Global, a leader in renewable energy.

This €400 million equity investment will fund Enfinity’s near-term growth and the execution of its business strategy to deliver a 17 GW global portfolio, including 7.3 GW of energy storage assets. With 1 GW of operational assets worldwide, the company is one of the fastest growing renewable energy platforms globally, and the leading renewable energy developer in Italy.

Jérôme Sousselier, Managing Director at ICG, said: “We are excited to be partnering with Enfinity, a market-leading solar energy company, with a clear vision of supporting the transition to a net zero carbon economy. And we are grateful for the instrumental role Astris and their teams in Europe, Asia and the US, played in helping us close this global partnership.”

Fabrice Henry, CEO of Astris, said: “The global context of a fast-accelerating energy transition process is very favorable to -- and is very much in need of -- high added-value, well-capitalized renewable energy development platforms like Enfinity, supported by visionary investors like ICG. We wish Enfinity and ICG the very best for the exciting road ahead.”

This transaction strengthens Astris’s position in the M&A renewable sector globally, where it is currently working on 15 live transactions.

Astris acted as exclusive financial advisor to ICG.