Axpo has received approval from the respective authorities for the definitive acquisition of the French photovoltaics (PV) company - Urbasolar.
The transaction will make Axpo an important market player in the development and construction of solar plants in France and Europe.
Acquisition of Urbasolar
On May 2, 2019, Axpo announced that it had concluded an agreement for the purchase of Urbasolar, with headquarters in Montpellier, France. The takeover of the photovoltaics company is now finalized. The French merger control authority and the Ministry for Industry have granted purchase approval.
Urbasolar is one of the renowned companies in the French solar energy industry
Urbasolar is one of the renowned companies in the French solar energy industry. The Urbasolar portfolio currently includes operating photovoltaic plants with an installed capacity of 350 MW. Urbasolar also holds a development pipeline of over 1,000 MW and provides services in the area of repair, maintenance and asset management.
Growth initiative in the solar business
Axpo will continue to manage Urbasolar as an independent subsidiary and intends to develop the company's existing, successful business model on an international scale in the upcoming years. After developing the wind business with the subsidiary - Volkswind, Axpo intends to take advantage of synergies in the economically attractive photovoltaics business.
As the largest Swiss producer of renewable energies, Axpo continues to consistently pursue its strategy for profitable growth in the international business.
