The European Bank for Reconstruction and Development (EBRD) has acquired a 2.8 percent stake in Voltalia, a French renewable power producer, for an investment amount of €23 million ($26 million).
Active in 20 countries, Voltalia provides customers with power produced from solar, wind, hydro and biomass energies.
As of Dec. 31, 2018, Voltalia had developed and sold more than 1.8 gigawatts and built more than 1.3 gigawatts. It operates more than 1 gigawatt and owns more than 0.5 gigawatts of consolidated installed capacity, according to the company.
Voltalia is planning to more than double its installed capacity to over 1 gigawatts by 2020 and intends to add another 1.6 gigawatts of renewable assets in operation or under construction by 2023, according to EBRD.
Voltalia plans to diversify beyond its focus regions in Brazil and France by investing in renewable projects in countries where the EBRD is active such as Morocco, Tunisia, Egypt and Greece, the bank said.
