Voltalia, renewable energy based electricity producer, has successfully finalized the acquisition of Martifer Solar, a key player in the global solar power market.
First announced on 20 June 2016, this transaction is part of Voltalia's continued plan to grow through the diversification of its energy mix and its geographic footprint. By incorporating Martifer Solar's expertise in development, construction, operation and maintenance, Voltalia confirms its positioning as an integrated industrial company.
The acquisition price of Martin Solar, amounting to €9 million (US$10.14 million), will be entirely self-financed in cash.
Martifer Solar, a company that develops, builds and operates solar PV plants. Since its creation, Martifer Solar has developed projects representing a total of 757 MW, all sold to investors. At year-end 2015 its portfolio of projects in development includes 1,343 MW.
Sébastien Clerc, CEO of Voltalia, commented:
"It is with great pleasure that we confirm the acquisition of Martifer Solar. Over the past three years, the exceptional work carried out by our teams has seen our installed capacity multiply nine-fold and this new addition to the group will strengthen our position in the solar energy sector, the fastest growing of all renewable energy sectors. I would like to wish a warm welcome to the 266 talented team members who are joining us at Voltalia."
Henrique Rodrigues, CEO and co-founder of Martifer Solar, added:
"We are very excited about this transaction: in addition to ensuring a continued service to Martifer Solar clients, this merger with Voltalia is an opportunity for us to join a fast-growing group with strong prospects and high ambitions."