Axpo agrees to acquire French solar energy firm Urbasolar

Swiss energy company Axpo has entered into an agreement to acquire the French solar energy firm Urbasolar for an undisclosed amount.

Founded in 2006, Urbasolar has developed 457 solar plants with a capacity of 350MW, including systems on office buildings, industrial rooftops or shopping centers along with open-space plants. Its customers include public administrations, industrial companies, logistic companies, retail chains, and the real estate industry.

The transaction is pending for approval from regulatory authorities. 

Once the deal is completed, Urbasolar will be managed as an independent company and will serve as a platform to expand solar business across Europe.