InfraVia sells to Valorem its stake in Force Hydraulique Antillaise SAS
InfraVia has announced that it has agreed to sell to Valorem SA its stake in Force Hydraulique Antillaise SAS (FHA), the developer and operator of hydropower plants in the French Caribbean islands.
FHA provides essential renewable electricity generation services in the French Caribbean islands, a territory heavily dependent on fossil fuels.
With this transaction, Valorem acquires 51% of FHA from InfraVia and its founder Raphael Gros (who keeps a 49% stake in the company). Completion of the transaction is expected in July, subject to certain conditions.
InfraVia had invested in FHA in 2010 when the company operated a portfolio of 1 MW. Today, FHA owns 10.4 MW of small scale operational plants, 6.4 MW of ready-to-build assets and has a further pipeline of 100 MW.
InfraVia has been advised by Astris as financial advisor and Weil, Gotshal & Manges as legal advisor.
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