Cero acquires remaining 50% shares, takes sole ownership of Nara Solar

Cero Generation has acquired full ownership of Nara Solar, an early-stage developer of utility-scale photovoltaic solar energy projects. Nara Solar was launched in 2019 as a 50/50 joint venture between Cero and Univergy Solar. With this acquisition, Cero has purchased Univergy's 50% shareholding in Nara Solar and will bring it under direct control within Cero's growing portfolio.

Nara Solar's portfolio includes 1 GW of solar in development, along with an early-stage pipeline of over 1 GW spanning Spain, France, and The Netherlands. With this acquisition, Cero's portfolio grows to over 11 GW, further cementing its position as a leader in the European renewables industry.

Univergy Solar, the former joint venture partner of Cero in Nara Solar, is a specialist in renewable energy development. The company specializes in the development of solar, wind, green hydrogen, and BESS projects, and have shown a commitment to driving the transition to a sustainable and decarbonized future.