The OECD-focused SUSI Energy Transition Fund (SETF) has acquired a majority stake in a French clean-energy developer.

SUSI Partners said SETF, its evergreen equity fund, has acquired the interest in APAL MW, a new company created through the merger of French wind and solar developers 3N Développement and L’Agence de Développement des ENR.

APAL is developing over 800MW of utility-scale onshore wind and solar photovoltaic projects and has the potential to expand into further sectors of the clean-energy universe such as battery energy storage and rooftop solar photovoltaics (PV) in the future.

The APAL transaction, which gives SETF a presence in another core European market, represents the fund’s eighth portfolio company overall, adding to platforms established in Italy and Poland.

SETF’s portfolio includes investments from renewable-energy production to energy efficiency and energy storage and integrated customer energy solutions in Europe, the US, Chile, and Australia.

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics