Brookfield advances €6.1 billion acquisition of French IPP Neoen

Facebook
Twitter
LinkedIn
Reddit
Email
Brookfield is expected to initiate an all-cash mandatory tender offer for all of the remaining shares. Image: Neoen

Canadian asset manager Brookfield has signed a share purchase agreement with French independent power producer (IPP) Neoen.

The closing of the deal will see Brookfield take a 53.12% majority stake in Neoen at €39.85 (US$42.6) per share from investors Impala and Fonds Stratégique de Participations, an investment vehicle owned by seven French insurance companies, amongst others.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The deal values the IPP at €6.1 billion.

Brookfield has also opened a tender agreement with French public sector investment bank Bpifrance to offer up its 4.36% stake in Neoen’s outstanding share capital.

Neoen announced negotiations with Brookfield in late May for a majority sale to the asset owner, along with its institutional partners Brookfield Renewables and Singapore-headquartered investor Temasek.

At the time, Neoen’s CEO Xavier Barbaro said the company was “thrilled to open a new chapter in Neoen’s history, with the arrival of Brookfield as our majority shareholder.”

Once the acquisition has closed, Neoen said that it expects Brookfield to initiate an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds in the company.

Neoen has been expanding its global footprint of late. In February it secured US$1.1 billion towards a 1.5GW renewable energy capacity expansion project in Australia. A total of 777MW of this capacity is slated to be solar PV, spread across five projects, in addition to four wind generation sites and a large-scale battery energy storage system project. The IPP plans to have 10GW of renewable energy capacity operational or under construction by 2030.

Equally, Brookfield reported a “record year” in its Q4 2023 financial results for its renewables management subsidiary, Brookfield Renewable Partners. This was largely driven by increased production from – and acquisition of – solar PV projects, which saw the company post US$225 million in funds from operations (FFO) during the quarter.

In October 2023, Brookfield completed the acquisition of US utility Duke Energy’s commercial utility-scale solar PV business for around US$2.8 billion.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

July 22, 2025
Statkraft has posted quarter-on-quarter declines in electricity generation and earnings in the second quarter of this year.
July 22, 2025
Canadian energy firm Enbridge will build a 600MW solar PV project in Texas with a power purchase agreement (PPA) in place with social media giant Meta.
July 22, 2025
Spanish independent power producer (IPP) Zelestra  has begun commercial operations at its 435MWdc Gorbea solar project in the state of Rajasthan, India. 
July 22, 2025
AEMO has reported a record-breaking surge in new renewable energy generation and storage assets reaching full operation within the NEM.
July 21, 2025
US solar project developer Primergy Solar has started commercial operations at its 408MWac Ash Creek Solar project in Hill County, Texas.
July 21, 2025
Enfinity Global has sold a 49% equity interest in its 402MW portfolio of solar plants in Italy to the SOFAZ.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK