Macquarie to Acquire 90% Stake in Apex Energies Group
Posted on 11/22/2021
Macquarie Asset Management, through Macquarie Green Investment Group Renewable Energy Fund 2, entered into exclusive negotiations to acquire a 90% equity interest in French solar energy platform Apex Energies Group (Apex Energies SAS) from a consortium of investors. The transaction is expected to reach completion by Q1 2022, subject to the company’s employees being informed and consultation with their employee representative bodies, receipt of necessary regulatory approvals and the satisfaction of customary closing conditions.
Apex Energies Group develops, finances, builds, and operates rooftop and ground mounted solar power plants across France. Apex Energies Group manages more than 530 sites with a combined 92 MW of installed capacity, and a 2.2 GW development pipeline. Via its subsidiaries ORA and S4E, Apex Energies Group also provides energy efficiency services to industrial clients and monitoring technology to renewable energy producers.
In December 2018, Apex Energies raised €13.5 million from a consortium of Crédit Agricole Group investment funds, including IDIA Capital Investissement, SOFILARO, and Bpifrance. Founded in 1991, Apex Energies was founded in 1991 and has it origins at BP Solar France.
Apex Energies Group will represent Macquarie Green Investment Group Renewable Energy Fund 2’s third investment having already acquired a 50% stake in a 268 MW portfolio of rooftop solar systems in the United States, and a 10% stake in the 576 MW Gwynt y Môr Offshore Wind Farm in the United Kingdom.
Macquarie Asset Management has been investing in the renewable energy sector for more than 15 years and manages investments in 13.3 GW of green projects globally. Of this, Macquarie Asset Management is currently managing around 4.8 GW of solar projects across the United States, Mexico, India, and China.