Employees and project pipeline are being transferred to a French developer
Energiequelle GmbH is selling its French subsidiary, Energiequelle SAS, to the French company H2air. With this sale, Energiequelle continues its strategic course of focusing on defined core markets. The transaction includes both the employees of the French company and its existing project pipeline.
Since 2010, the French company has been part of the Energiequelle Group. Together with the local team, Energiequelle has developed and implemented more than 27 wind and solar parks with a total capacity of 266 MW in recent years, thus making a significant contribution to the expansion of renewable energies in France.
The past few years have been characterized by challenging market conditions for the entire renewable energy sector. Energiequelle is also currently undergoing a phase of consistent strategic realignment. Against this backdrop, the decision was made to transfer its activities in France to an experienced regional player and to focus its own resources specifically on the company's strategic focus regions.
H2air strengthens regional presence
With the acquisition of H2air, an established French developer and operator of renewable energy projects is taking over the French subsidiary of Energiequelle. The company is pursuing a long-term growth strategy in France and aims to further expand its regional presence through this acquisition.
'I am delighted with the successful completion of this transaction with Energiequelle. Energiequelle SAS has established itself as a key player in the French market through its expertise and long-standing regional presence. The acquisition aligns with our strategy to further strengthen our position in the renewable energy sector, and wind energy in particular, in France,' explains Roy Mahfouz, founder and president of H2air.
The existing projects and the expertise of the employees will play a key role in the transaction. All employees of Energiequelle SAS will be transferred to H2air as part of the deal. The transaction comprises a wind and solar project portfolio with a total capacity of approximately 500 MW. This includes 60 MW of already operational plants as well as projects in an advanced stage of development before construction begins, which will be continued by H2air in the future.
Throughout the entire process, Energiequelle prioritized ensuring the future of its employees and the continued development of its projects: 'With H2air, we have found an experienced and committed partner who meets these requirements. Therefore, we are delighted that the transaction has been successfully completed and that the projects and the team are in good hands. My special thanks go to all the employees of Energiequelle SAS. With their dedication, expertise, and trustworthy collaboration, they have significantly shaped the company's successful development and the implementation of numerous projects in France. We wish the entire H2air team every success for the future,' said Michael Raschemann, Managing Director of Energiequelle GmbH.Original announcement link
Source: Energiequelle GmbH
