EnBW completes VALECO acquisition

After having received the final official approvals, EnBW Energie Baden-Württemberg AG closed the acquisition of the French developer and operator of wind and solar farms VALECO on 3 June 2019.

EnBW’s bid was previously accepted in a highly competitive field of bidders. The acquisition strengthens EnBW’s activities in the renewable energy sector over the long term as a key future business area for the company and at the same time secures growth opportunities in one of the most important markets for renewable energy in Europe.

VALECO is based in Montpellier and is one of the Top 10 operators of renewable energy farms on the French market. The company employs around 135 people in the onshore wind and solar sectors and is active along the entire value-added chain throughout France from development and construction through to operation. With an installed capacity of 276 megawatts of onshore wind power and 56 megawatts of solar power, as well as a project pipeline of 1,700 megawatts, VALECO reported an annual turnover of around EUR50 million (US$56 million) in 2018. Alongside the company headquarters in Montpellier, VALECO also has project development offices in Amiens, Nantes, and Toulouse.

The previous owners of VALECO were the founding family Gay and the bank Caisse des dépôts et consignations (CDC).