Global investment company Eurazeo has acquired an 80% stake in Ikaros Solar, a Belgian solar company.

The €27bn asset manager said it has bought the majority stake from Ikaros Solar’s founders and the Omnes Capital managed Capenergie 2 fund.

Ikaros Solar develops, builds, owns and operates rooftop and ground-mounted solar photovoltaic (PV) power plants across Benelux, France, Portugal and the UK.

Eurazeo said it will support the company in becoming a European independent power producer by providing growth capital to scale the company organically and “through bolt-on acquisitions, access to a wide-ranging corporate network as well as in-house project and finance structuring capabilities”.

Eurazeo said Ikaros Solar is the first investment of its infrastructure team in line with its mandate to invest in the energy and digital transition and contribute to a low-carbon and sustainable economy. Eurazeo has committed to invest up to €45m.

Martin Sichelkow, managing director at Eurazeo, said: “We are thrilled to announce our first investment in a sub sector of the energy transition that sits at the heart of our mandate, namely distributed renewable energy generation.

“Ikaros Solar portrays strong intrinsic ESG features and supports the transition towards a low carbon economy – a key pillar of Eurazeo’s new sustainable infrastructure strategy.”

Yves Devis, CEO of Ikaros Solar, said: “Together with Eurazeo we will boost our development activity to deliver the pipeline in the coming years.

“Synergy with our PV construction expertise is enabling optimal value creation on a variety of opportunities. We are paving the road towards an efficient European energy transition”

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