French investment firm Ardian announced on Monday, March 24, the acquisition of Akuo, a renewable energy producer specializing in photovoltaics, wind power, and storage, with a production capacity expected to reach 1,9 gigawatts (GW) by the end of 2024.
This transaction, the amount of which has not been disclosed, will allow Akuo "to streamline its business and expand its international presence, but also to innovate more quickly to meet the energy challenges of tomorrow," commented the company's co-founder, Eric Scotto, quoted in the press release.
Akuo was founded in 2007 and has been backed by the ICG investment fund since 2022. It is present "in around ten key markets in Europe and on both American continents," the press release states.
The company "aims to reach 5 GW by 2030," it added.
Ardian, which manages $177 billion invested across various asset classes such as private equity, private debt and infrastructure, is also the largest shareholder in London Heathrow Airport, in which it holds a 32,6% stake.
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