Ardian Clean Energy Evergreen Fund (ACEEF) is investing in French renewable energy producer UNITe
Press release
Ardian Clean Energy Evergreen Fund (ACEEF) is investing in French renewable energy producer UNITe
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06 June 2024
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Infrastructure
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France, Paris
6 minutes de lecture
Ardian, a world-leading private investment house, today becomes the largest shareholder in UNITe, an independent power producer and developer, through its Clean Energy Evergreen Fund (ACEEF). This strategic investment further enhances Ardian’s renewable energy portfolio by expanding its assets in hydropower, photovoltaics, and wind power. Omnes, Bpifrance (Fonds Impact Environment team) which invested in 2018, and Société Générale Capital Partenaires, which invested in 2010, agreed to sell their stake in UNITe to Ardian after successfully completing the objective they set themselves, in which UNITe has consolidated its position as an independent power producer and developer.
The UNITe – Hydrowatt Group is recognised as the leading independent player in small hydro in France, with 36 powerplants, and one of the most promising photovoltaic developers. Last year, UNITe was ranked third nationally for tenders issued by the Commission de Regulation de l'Energie.
Since 2019, UNITe has decided to significantly grow its photovoltaic development, with projects in France totalling 1.5 GWp in capacity over the coming years. Over 2023, UNITe has completed a first stage of 11 projects (140 MWp) scheduled to be operational by 2025. Ardian's long-term support, UNITe will pursue its renewable energy strategy, participate in the expansion of these energies and embark on its next stage of development. Through ACEEF, its evergreen fund, Ardian will continue to support UNITe's growth by helping to finance its current and future projects.
For almost 40 years, the UNITe Group has been reconciling the need for energy with respect for the environment. Today, UNITe is one of the leading independent producers of low-carbon, local, sustainable and competitive electricity in France.
Through its subsidiary GREEN-ACCESS, the group is also a leader in the valorization of green energy., notably through the sale of Guarantees of Origin and start the negotiation of contracts for the direct supply of renewable electricity to industrial consumers.
Ardian will also provide UNITe with its OPTA digital renewable energy asset management tool. OPTA is Ardian’s in-house data analytics tool designed to optimize the management of renewable energy portfolios and monitor market risk for renewable assets worldwide. Ardian now tracks more than 2.5 GW of renewable assets through OPTA.
“Through ACEEF, Ardian’s mission is to offer investors the opportunity to grow their exposure to renewables and the energy transition, and to support the development of this important sector. UNITe is an exciting addition to Ardian’s portfolio. We are excited to partner with this historically family-run business and support the impressive management team in their ambitious growth plan.” Benjamin Kennedy, Managing Director Renewables Infrastructure, Ardian
“Through this investment, UNITe will benefit from Ardian’s support as a long-term financial partner, well-adapted for supporting the group's strong growth strategy. I am proud to be moving forward with UNITe's formidable team, while preserving our convictions and our unique state of mind..” Alexandre Albanel, President, UNITe
Ardian is a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds, the team manages a renewable energy portfolio of more than 8GW of heat and renewable energy capacity in Europe and the Americas, and over $28bn assets under management across the globe. ACEEF will continue to focus on core renewable assets including solar, wind, and hydro, as well as emerging technologies across biogas, biomass, energy storage, and energy efficiency.
Recent investments made through the fund include the acquisitions of a Peru-based hydropower company, the diversified renewable energy platform ICQ Holding, and multiple wind parks in Finland, where fund also invested in the development and construction of Finnish Battery Energy Storage System (BESS) projects.
The deal is subject to the usual regulatory approvals.
List of participants
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Ardian
- M&A: Astris Finance
- Legal: Gide Loyrette Nouel
- Technical and ESG: Everoze
- Market advisor: Afry
- Tax and Finance: KPMG
- Insurance and W&I: Marsh
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UNITe
- M&A : BNP Paribas
- Legal (M&A) : Linklaters, LPP
- Technical and ESG: Natural Power, Artelia
- Legal, Tax and Finance DD: LPA, Deloitte, Deloitte Société d’Avocats
- Insurance and W&I: Marsh, LPA
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Sellers' consortium: Omnes Capital, Bpifrance et Société Générale Capital Partenaires
- M&A: BNP Paribas
- Legal: Clifford Chance
- Technical and ESG: Natural Power, Artelia
- Tax and Finance: Deloitte, Deloitte Société d’Avocats
ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
ABOUT UNITe
For almost 40 years, the UNITe group has been working to combine the need for energy with respect for the environment. Today, UNITe is one of the leading independent producers of low-carbon, local, sustainable and competitive electricity in France, with more than 60 production sites. Through its subsidiary GREEN-ACCESS, the group is also a leader in energy recovery, notably through the sale of Guarantees of Origin and start the negotiation of contracts for the direct supply of renewable electricity to industrial consumers.
UNITe is an independent, agile and financially solid group, rooted in the regions and with recognised expertise in the renewable energy sector. Led by Alexandre ALBANEL and Stéphane MAUREAU, the group is currently undergoing a phase of sustained growth.
UNITe is one of the few companies still regularly building hydroelectric power stations in France. In addition, the company leases a large amount of land in France on a very long-term basis (35 years or more) to develop ground-based photovoltaic installations, often in synergy with an agricultural activity.
ABOUT OMNES CAPITAL
Omnes is a leading private equity firm dedicated to energy transition and innovation. With €6 billion in assets under management, our teams support long-term partnerships with entrepreneurs through our four core businesses: renewable energy, sustainable cities, deeptech and co-investment. For over 20 years, Omnes has been applying its expertise to help businesses grow in more than 15 countries, with a particular focus on sustainable development. As part of its approach as a responsible investor, the company has created the Omnes Foundation to support non-profit organisations working for children and young people in the fields of education, health, social and economic integration.
ABOUT BPIFRANCE
Bpifrance finances companies - at every stage of their development - with credit, guarantees and equity capital. Bpifrance supports them in their innovation and international development projects. Bpifrance now also covers their export activities through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and ETIs are also part of the offer available to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, single and efficient contact to help them face their challenges.
Within Bpifrance’s Private Equity direct investment team, (28 Bn€ AuM, 700 portfolio companies), the Impact & Environment team (500 M€ AuM, 40 portfolio companies) invests in climate & environmental solutions. The team’s mission is to structure the energy and ecological transition sectors by providing equity solutions as well as the tailorized support needed for the growth of key players active in addressed sectors.
Follow us on Twitter: @Bpifrance @BpifrancePresse
ABOUT SOCIETE GENERALE CAPITAL PARTENAIRES
Société Générale Capital Partenaires (SGCP) supports shareholder-managers of SMEs and ETIs in their development and proximity approach. SGCP takes minority stakes in companies' capital, with investments ranging from €1 million to €35 million in various contexts: development through external or organic growth, capital transfer, shareholder restructuring, and financial structure optimization. Each year, SGCP teams, based in Paris, Lille, Strasbourg, Lyon, Marseille, Bordeaux, and Rennes, invest between €150 million and €200 million in around twenty operations, reaffirming their long-term commitment to supporting business financing and the economy.