KKR-backed Albioma buys Brazillian photovoltaic power plants from Ardian’s GreenYellow

The acquisition of the portfolio of power plants marks Albioma’s entry into the solar power market in Brazil.

  • The six power plants are fully operational, with a total installed capacity of 31.6 MWp
  • KKR is the majority shareholder in Albioma
  • Ardian, along with Groupe Casino, Tikehau Capital and Bpifrance, acquired a majority stake in GreenYellow in July

KKR-backed Albioma, the Paris-headquartered renewable energy producer, finalised an agreement with Ardian-backed GreenYellow on Monday to purchase a portfolio of six photovoltaic power plants in Brazil. GreenYellow is a Paris-based energy transition partner specialising in decentralised solar photovoltaic production, energy efficiency projects and energy services in France and abroad.

The six power plants are located across four states in Brazil and are fully operational, with a total installed capacity of 31.6 MWp. Albioma’s acquisition of the power plants marks its first entry into the solar power market in Brazil and supports the company’s ambition to be 100% renewable by 2030. Albioma has been operating its historical biomass business model in Brazil since 2014.

New York-headquartered KKR in late July closed the first offer period of its tender offer for Albioma. It offered €50 a share when launching the offer in late April and purchased 83.44 percent of Albioma’s share capital. The tender offer was reopened on the same terms on 8 August and will run to 9 September.

KKR has invested over €10 billion in France across all sectors.

Albioma is established in Overseas France, Mauritius and Brazil and has been producing renewable energy in partnership with the sugar industry from bagasse, a residue from sugar cane. The group owns power plants around the world including in France, Turkey and Canada.

Paris-headquartered Ardian’s purchase of a majority stake in GreenYellow – alongside Tikehau Capital, Bpifrance and the Casino Group – was covered by PE Hub Europe in July.