Altarea completes acquisition of Prejeance Industrial from Repsol, strengthening photovoltaic development in France

Altarea has completed the acquisition of Prejeance Industrial (PI) from Spanish group Repsol, strengthening its photovoltaic development platform in France. This strategic move is in line with the Group’s new business segment, launched in 2023.

Founded in 2019, Prejeance Industrial specializes in small to medium-sized rooftop solar projects (from 100 to 500 kWp), primarily in agricultural sheds. The company’s experienced team of 18 employees manages the entire life cycle of a solar project, including development, construction, asset management, and financing/refinancing. These installations offer renewable energy solutions and provide farmers with additional income and agricultural equipment at no additional cost.

As of June 2024, PI owns and operates over 42 MWp of installed capacity in France and has project plans approaching 400 MWp, including 41 MWp under construction. The investment in the acquisition amounts to approximately €140 million, including €25 million in goodwill and €115 million in solar plants in various stages of operation, construction or development.

PI will be consolidated with Altarea’s accounts from the second half of 2024, marking a significant expansion of the Group’s renewable energy portfolio.

Related