Engie buys SolaireDirect for €200 million

(Agence Ecofin) - The French Engie (formerly GDF Suez) has acquired the renewable energy producer SolaireDirect. Finalised at €200 million, the sale gives Engie 95% shares of SolaireDirect's capital, making Engie the leader of solar energy in France with a raw capacity of 383MW.

The contract has provisions for an increase of SolaireDirect's capital by €130 million. Moreover Engie has, by virtue of its 95% shares, full voting rights.

According to Thierry Lepercq, CEO of SolaireDirect, this is an important step in the development strategy. This acquisition will enable SolaireDirect to have access to financial resources and the required means to speed up its growth.

The company had indeed wished to get listed with a capitalisation of about €383 million, but did not achieve it due to insufficient interest from the public.

SolaireDirect can now strengthen its position in the 15 countries where it currently operates.