Engie, formerly known as GDF-Suez, has just acquired a 95 per cent stake in Solairedirect.
The deal enables 100% voting rights in the solar power company. The merger between the two businesses allows ENGIE to bolster its position in the solar sector and makes it the market leader in France with a total gross installed capacity of 383 MW.
This will also strengthen the French multinational electric utility company’s global position, as Solairedirect is present in more than 15 countries, of which are already sites of ENGIE activities.
Announcing the acquisition, Gérard Mestrallet, ENGIE’s Chairman and CEO, stated: “This is a crucial step forward in the implementation of our solar strategy. ENGIE has been committed to renewable energies for several years now. We already lead the French wind power market, and this deal makes us the country’s number 1 in solar power too.”
“By pooling the expertise of Solairedirect and ENGIE staff, we will be able to speed up our development in renewable energies, in line with our strategy to spearhead Europe’s energy transition and become the benchmark energy supplier on high-growth markets.”
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