Macquarie Asset Management is investing an undisclosed amount to buy French solar energy platform Apex Energies Group from a consortium of investors.

Macquarie said it is buying a 90% stake in Apex Energies on behalf Macquarie Green Investment Group Renewable Energy Fund 2 (MGREF2), a fund that raised more than €1.6bn earlier this year.

Apex Energies develops, finances, builds and operates rooftop and ground-mounted solar power plants across France. The group manages more than 530 sites with a combined 92MW of installed capacity, and a 2.2GW development pipeline.

Stéphane Brimont, the head of France, Benelux and Greece at Macquarie Asset Management, said: “Apex Energies Group has developed a rapidly growing base of operational solar assets across France and aims to secure 1GW of project capacity by 2025.

“We are excited by the opportunity to pursue this journey, as well as support the business in consolidating and strengthening its position as a leader in France’s solar rooftop market.”

Brimont said the group’s activities align closely with MGREF2’s long-term mandate to develop, construct and operate renewable energy at scale in mature markets.

MGREF2 is a 25-year closed-end fund, invests in a diversified portfolio of assets including platforms and construction and operational stage wind and solar projects in Western Europe, the US, Canada, Mexico, Japan, Taiwan, Australia and New Zealand.

Apex Energies will represent MGREF2’s third investment having already acquired a 50% stake in a 268MW portfolio of rooftop solar systems in the US and a 10% stake in the 576MW Gwynt y Môr Offshore Wind Farm in the UK.

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