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.

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