Crédit Agricole Private Equity, through its Capenergie 2 fund, participates in a capital increase of Abakus Solar AG, a leading German wholesaler, developer and installer of photovoltaic infrastructure projects. Crédit Agricole Private Equity and Abakus Solar also set up the infrastructure holding “Abakus Solar Power”, a holding designed to invest in the company’s projects. Crédit Agricole Private Equity’s overall investment amounts to €10 million.
With offices in Gelsenkirchen (head office), Cologne, Munich and Berlin, Abakus Solar is a developer and installer of photovoltaic rooftop and ground-mounted installations as well as wholesaler of complete installation kits (panels & inverters). Abakus Solar operates in the German market and has a strong presence in selected key markets outside of Germany such as Italy, Taiwan and the USA. The company has followed a promising growth trend since 2008 and expects a turnover of €112 million in 2011. It has 95 employees.
Germany is the world’s strongest photovoltaic market with 7.4 GWp of new photovoltaic installations and a 44.5% share of newly installed capacity worldwide in 2010.
The investment of Crédit Agricole Private Equity will enable Abakus Solar to step up its international development and to secure a third party investment solution for the financing of its photovoltaic infrastructures.
Marc-Philippe Botte, Director Renewable Energy at Crédit Agricole Private Equity, comments: “We are delighted to invest in Abakus Solar, which has the potential to become one of Europe’s leading photovoltaic companies. Our capital injection will enable Abakus’ strong management team to further accelerate its international expansion.”
Serge Savasta, Head of Renewable Energy at Crédit Agricole Private Equity, adds: “Our investment in Abakus Solar is further evidence of the success of our dual investment approach, which was already successfully implemented in France, Belgium and Italy. We are delighted to duplicate this strategy in Germany, which is historically the strongest photovoltaic market in Europe.”
Thomas Sandner, CEO of Abakus Solar, concludes: “We are delighted to have found a financial partner with a profound knowledge of the photovoltaic sector. Credit Agricole Private Equity will bring not only money, but also significant strategic insight to the table.”
Crédit Agricole Private Equity
Serge Savasta, Head of Renewable Energy
Marc-Philippe Botte, Director Renewable Energy
Thomas Sandner, CEO
Crédit Agricole Private Equity’s legal advisor
Clifford chance (Thomas Stohlmeier, Bjoern Heinlein)
Abakus Solar’s legal advisor
Linklaters (Ralph Drebes)
Crédit Agricole Private Equity
Martine Sessin-Caracci, email@example.com – +33 (0)1 43 23 90 88
Caroline Babouillard, firstname.lastname@example.org – +33 1 44 50 58 72
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is a key player in the private equity market, dedicated to financing SMEs. With €3.7 billion under management, Crédit Agricole Private Equity provides companies with the equity needed to expand at every stage of their development: LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure.
The renewable energy team has already invested in 22 companies or infrastructure projects in the wind, solar, hydroelectric and biomass segments through two mutual funds, Capenergie and Capenergie 2 amounting to €230 million.
Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI).
About Abakus Solar AG
Abakus Solar AG is a leading internationally-operating provider for photovoltaics with comprehensive technical competence from small-scale plants to megawatt solar parks. Established in 1995, Abakus Solar AG concentrates on planning and constructing turnkey PV plants, providing wholesale quality PV systems as well as the implementation of architecturally challenging building integrated plants. Headquartered in Gelsenkirchen, Germany, the company has additional offices in Munich, Cologne and Berlin. Currently, Abakus employs about 95 people in Germany. In Europe, abakus has additional affiliates in Italy, Greece, UK and in North America.