Rubis acquires the photovoltaic energy producer Photosol

Rubis will buy 80% of Photosol's capital for 376 million euros from the founders and managers of the company who will retain a minority stake, indicates a press release from Rubis.

Following this transaction, which should be finalized during the first quarter of 2022, Rubis will create a new division called "Rubis Renouvelables". It is expected to reach over one gigawatt (GW) of installed capacity by 2025 and over 2,5 GW by 2030.

Photosol, which has 313 megawatts (MW) of operational capacity and 101 MW under construction, will contribute 25 million euros to Rubis' gross operating surplus in 2022.

Thanks to this acquisition, "Rubis takes a strategic step towards the transition in renewable energies", commented Jacques Riou, leader of the group, quoted in the press release.

"Rubis' know-how combined with the expertise of the Photosol teams will allow us to develop new projects and become a leader in France in solar power plants installed on the ground or on the roof", added Clarisse Gobin-Swiecznik, Director Deputy General Manager of Rubis.

Rubis began its diversification towards cleaner energies in June 2021, by acquiring a stake in Hydrogen de France, a company specializing in infrastructure for producing electricity from hydrogen from renewable energies.