Altarea expands photovoltaic platform

Altarea has finalized its acquisition of Prejeance Industrial from Repsol, enhancing its photovoltaic installation capabilities in France as part of its 2023 strategic plan. Founded in 2019, Prejeance Industrial specializes in small to medium-sized rooftop solar projects, primarily on agricultural buildings, managed by a team of 18 employees overseeing project development, construction, asset management, and financing. As of June 2024, Prejeance Industrial operates 42 MWp of installed capacity across France and is actively developing a pipeline totaling nearly 400 MWp, with 41 MWp currently under construction. The acquisition, valued at approximately €140 million, includes €25 million in goodwill and €115 million in operational, construction, and developmental solar assets. Integration into Altarea’s financials will commence in the latter half of 2024.