Published on 26 April 2019 |

Total Eren finalises the acquisition of NovEnergia Holding Company

Logo Total Eren-Novenergia

 

Total Eren finalises the acquisition of NovEnergia Holding Company

Paris, 8th April 2019Total Eren, a leading renewable energy Independent Power Producer (“IPP”) based in Paris, is pleased to announce the closing of the acquisition of NovEnergia Holding Company (“NHC”), a Southern European Independent Power Producer (“IPP”). This follows the signature of a shares purchase agreement related to the shares of NHC in February.

Following the consent of all the involved stakeholders on 20th February 2019 along with the approval of the transaction by the Portuguese Competition Authority on 28th March 2019, the administrative requirements necessary for the closing of the acquisition are now completed.

Through this operation, Total Eren diversifies its portfolio of renewable energy assets, significantly increasing its presence in Southern Europe. NHC brings a total gross installed capacity of 669 MW (657 MW net) with 47 fully operating assets installed in Portugal, Italy, France, Spain, Poland and Bulgaria. NHC benefits from a strong management team with a longstanding track-record in the renewable energy sector. The Company is valued at more than €1 billion (corresponding to the enterprise value).

With this acquisition, Total Eren enhances considerably its asset base, reaching more than 2,200 MW of renewable energy power plants (solar, wind, hydro) in operation or under construction worldwide. In addition, the Company holds more than 2,000 MW of projects currently under development. Total Eren is active across the globe, with more than 50 power plants in Europe, Central Asia, Asia Pacific, Latin America, and Africa.

Total Eren’s core business and strategy remain the same: as an IPP and a long-term investor, the Company aims to achieve a global net installed capacity of more than 3 GW by 2022 on top of NovEnergia power plants.

Pâris Mouratoglou, Chairman of Total Eren, stated: “We are delighted to finalise this major acquisition and to welcome the NovEnergia teams within Total Eren. This milestone represents a turning point in our history. It enables us to further diversify our portfolio and to substantially expand our presence in Europe”.

David Corchia, CEO of Total Eren, added: “The swiftness of the transaction’s execution was only possible thanks to the quality of the teams on both sides and the close collaboration between them. Total Eren’s roadmap remains unchanged and our development plan is even more ambitious ».

About Total Eren

Founded in 2012 by Pâris Mouratoglou and David Corchia, Total Eren develops, finances, builds and operates renewable energy power plants (solar, wind, hydro) representing a gross capacity of more than 2,200 MW in operation or under construction worldwide. Through partnerships with local developers, Total Eren is currently developing numerous energy projects in countries and regions where renewable energy represents an economically viable response to growing energy demand such as in Eastern Europe, Central Asia, Asia Pacific, Latin America and Africa. Its objective is to achieve a global net installed capacity of more than 3 GW by 2022. On 1st  December 2017, Total S.A., the major energy company, has acquired an indirect 23% interest in Total Eren. For more information, please visit www.total-eren.com

For more information, please contact: 

Total Eren

Solange Petit de Bantel, Communication & Public Relations Manager

T: +33 1 58 97 58 07 / M : + 33 6 18 23 76 99 / E:

Yannick Tetzlaff, Laura de Carné (Brunswick Group)

T: +33 1 53 96 83 83 / E:

 

 

 

 

 

 

 

 

 

 

 

 

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