Specialist financial advisor oversees three deals since December 2018, all involving utility-scale solar projects in France.
London, 25 April 2019 – Augusta & Co. (Augusta), a specialist financial adviser to the renewable energy industry, has overseen the sale of a 51.7MW solar portfolio to Tenergie. This marks Augusta’s third solar-based deal in France since December 2018, covering almost 300MW of solar capacity in operation or under development.
Significantly, the deals involve 264MW of ground-mount solar projects. This demonstrates continued interest in utility-scale French solar projects, following in the wake of a mixed-project auction which awarded all 200MW to large-scale PV projects in November, and a major solar auction which awarded 855MW of capacity this February.
The deals included:
- Sale by FPCI SOLARCAP of a 51.7MW solar portfolio to Tenergie. Augusta acted as exclusive financial advisor to the fund manager, 123 Investment Managers.
- Sale by SUSI Sustainable Energy of 85% of Third Step, a 38.6 MW solar portfolio, to Société Anonyme Monégasque Monaco Energies Renouvelables (M.E.R). Augusta acted as exclusive financial advisor to SUSI Partners.
- Sale of a 500 MW development pipeline of onshore wind and solar based in Southern France to an asset management company, including a 200MW solar porfolio.
“France is clearly one of Europe’s solar hotspots, and these sales reflect a thriving solar market both for operating assets as well as new development. Southern France in particular demonstrates a lot of potential for solar, and we expect to see more such deals over the coming few months,” said James Knight, Partner, Augusta & Co.
“It is particularly interesting to have played a role in the sale to Monaco Energies Renouvelables (MER), which represents the state’s first step towards its goal of producing green electricity equivalent to domestic consumption.”
Augusta has a long track record of developer sales in the French renewables market, having carried out successful sales including of Velocita to Envision in 2016 and Epuron to ERG in 2018.
About Augusta & Co.
Augusta & Co. is an independent London-based specialist financial advisory and investment house serving the European renewable energy sector. Augusta has successfully closed over 90 transactions to an aggregate value in excess of €10 billion and for 16 years has been at the forefront of pioneering transactions in the sector. For more information, please visit: www.augustaco.com
