Voltalia subsidiary Helexia buys struggling French agrisolar installer for US$5.5m

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Helexia said the purchase of Cap Sud would help drive its French agrisolar business forward. Image: Unsplash

Voltalia subsidiary Helexia has acquired French agrisolar installer and operations company Cap Sud for €5 million (US$5.5 million) after the company was placed in safeguard proceedings at the end of 2021.

The acquisition will “enable Helexia to further accelerate its growth in France in the rural and urban solar roofing sector,” the company said in a statement. It will also allow Voltalia to offer French farmers a wider range of products and services, while also promoting internal synergies within the group, the company added.  

At the end of 2021, Cap Sud, which currently operates 35MW of agricultural solar roofs, faced a liquidity crisis and was placed in safeguard or receivership proceedings, with a call for buyers requested.

Established in 2010, Helexia specialises in on-site energy production on rooftops, solar shading systems and the energy optimisation of buildings. While predominantly active in the tertiary and industrial sectors, Helexia also has experience in the agrisolar sector with 23MW in operations.

It has a portfolio of long-term power purchase agreements (PPA) of 225MW, which has increased more than four-fold since it was acquired by French renewables developer and power producer Voltalia in 2019.

Voltalia, whose revenue jumped 71% in 2021 following the strong performance of its development and construction unit, has developed a portfolio of power plants in operation and under construction of 2GW.

Voltalia also saw its annual electricity production reach a record high last year reaching 4.1TWh, representing a 51% year-on-year increase, with the company boosted by a 25% rise in installed solar capacity.

“Together, Cap Sud, Helexia and Voltalia will be able to offer farmers a comprehensive package of partnerships that include solar roofs on agricultural buildings, agrivoltaic projects, ground-mounted solar projects and wind power projects,” said Sébastien Clerc, CEO of Voltalia.

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