A consortium led by Macquarie Asset Management has reached an agreement to acquire Reden Solar from InfraVia Capital Partners and Eurazeo. Macquarie, with British Columbia Investment Management Corporation (BCI) and MEAG, has bought the solar developer for an enterprise value of €2.5bn. Reden Solar develops, finances, builds and operates solar power plants across Europe and Latin America, with a 762MW operational portfolio and a 15GW development pipeline. Headquartered near Toulouse, Reden Solar has an established presence in France and Spain as core markets and has recently expanded its footprint into Greece and Italy. The transaction is expected to reach completion by the third quarter of 2022. Our business is continually evolving from predominantly rooftop solar, into ground mounted and agrivoltaic projects.
With the backing of our new shareholders, we look forward to expanding Reden Solar’s presence in existing and new markets, as well as developing our teams on the ground. Reden Solar’s geographically diverse platform provides an exceptional opportunity to scale up its development pipeline to help meet net zero targets across Europe. Their management team has a proven track record of developing projects in core as well as new European markets.