According to French media, several entities, including TotalEnergies’ investment unit, are interested in the planned sale of Akuo.
French renewable energy developer Akuo said earlier this year that it had begun looking for a strategic partner when it hired three banks – Nomura, Rothschild & Co and Natixis Partners – to evaluate potential takeover bids. Several investment funds, including the investment arm of French energy giant TotalEnergies, have reportedly expressed interest, according to a recent report. L’Informé.
The founders of Akuo announced earlier this year that they are applying for funding to develop a 20 GW renewable energy project portfolio. To help with this process, the company has hired three banks – Nomura, Rothschild & Co and Natixis Partners – to evaluate potential takeover bids and their strategic value.
Total Energies has 280 billion euros ($307.0 billion) in revenue in 2022 and record profits of nearly 19.5 billion euros in the same year, so it is well-positioned to complete this roughly 2 billion-euro acquisition of Akuo. The deal would significantly expand Total Energies’ renewable energy portfolio, which had 1.6 GW of operating capacity in January 2023, mainly through external growth.