Voltalia expands its project portfolio in Morocco and announces to be in negotiations with Martifer Solar

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Voltalia expands its project portfolio in Morocco and announces to be in negotiations with Martifer Solar

Voltalia has announced the acquisition of Alterrya Maroc, a renewable energy project development company in Morocco and negotiations with Martifer Solar’s shareholders with a view to acquire this company.

The acquisition of Alterrya Maroc enables Voltalia to acquire a portfolio of projects representing a total potential capacity of 185 MW of wind power and 100 MW of solar power. The projects acquired are at various development stages, from the most preliminary to most advanced; first construction works could start within the next two years.

This transaction follows the filing of applications earlier this year for the authorization of four hydroelectric projects (40 MW in total), one solar project (2 MW) and one wind project (105 MW), thus confirming Voltalia’s ambitions in Morocco.

Additionally, Voltalia is in negotiations to acquire 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. The projects are intended to be sold to third-parties, but Martifer Solar can also be in charge of their construction and operation according to investors’ needs.  

The acquisition price of Martin Solar, amounting to €9 million (US$10 million), would be entirely self-financed in cash. The signing of the final agreement and the effective transaction should be closed in Q3 2016

Sébastien Clerc, CEO of Voltalia, said about the acquisition of Alterrya Maroc:

“With COP 22 being held in Marrakech this year, we are very happy to expand our project portfolio in the Kingdom of Morocco.”

About the negotiations with Martifer Solar, he said:

“Once merged, our two companies form an international group integrated throughout the renewable energy value chain with a double positioning as renewable power producer and as service provider for third-party clients.“ 

Henrique Rodrigues, CEO and founder of Martifer Solar, stated:

“Martifer Solar’s teams and myself are eager to join Voltalia” says Henrique Rodrigues, CEO and founder of Martifer Solar. “In ten years we managed to turn Martifer Solar into a global player in the solar industry. We will continue fuelling this entrepreneurial spirit we have in common with Voltalia”.

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