French-based renewable energy development company Voltalia recently acquired Martifer Solar, providing a considerable boost to its global portfolio and capacity. The deal, the value of which is not disclosed, is looked over by technical advisory firm Mott MacDonald.
Voltalia is a France-based provider of renewable energy, founded in 2005. The company is today active in 30 countries globally, providing expertise in solar, wind, hydro and biomass. Voltalia has around 130 staff, with revenues of close to 60 million euro, and has installed around 400 MW in renewable energy capacity.
Martifer Solar was established in 2006 and is headquartered in Portugal. The company has since grown to employ more than 250 people with a presence in 17 countries across the globe. Martifer has installed around 670 MW of solar energy all over the world, across all market segments, from Ground-mounted to Off-grid Solutions.
Voltalia has fully acquired Martifer Solar for an undisclosed sum. The deal provides Voltalia with a considerable boost to its portfolio in the form of active engineering, procurement and construction project, as well as furthering the company’s geographical presence. In addition, the deal opens up an additional development pipeline, while rebalances Voltalia’s service offering in favour of solar energy.
As part of the deal, Mott MacDonald provided technical due diligence for Voltalia surrounding both the corporate and project levels of Martifer Solar’s operations. The due diligence process saw the firm work closely with its client to determine a “robust evaluation methodology” for the investigation of the target. The work disclosed Martifer Solar’s projects, including 1.343 MW of projects under development, 85 MW under construction and 585 MW at operational level.
Johana Trujillo, Mott MacDonald’s Solar Programme Director, says, “This acquisition involved the review of over 50 projects at various stages and in different locations across Europe, Africa, Asia and Latin America. Our team of solar specialists made the most of our global presence and direct experience in merger and acquisitions to support this transaction, which we are certain will bring an even stronger player to the global solar PV market.”
CEO of Voltalia Sébastien Clerc, adds, “Over the past three years, the exceptional work carried out by our teams has seen our installed capacity multiply nine-fold and this new addition to the group will strengthen our position in the solar energy sector, the fastest growing of all renewable energy sectors. I would like to wish a warm welcome to the 266 talented team members who are joining us at Voltalia.”