Published on June 8th, 2018 | by Joshua S Hill0
ENGIE Acquires LANGA Group To Cement French Renewable Leadership
June 8th, 2018 by Joshua S Hill
French electric utility ENGIE announced this week that it has finalized the acquisition of local solar and wind power producer LANGA Group and its portfolio of operational and pipeline projects worth 1.5 gigawatts (GW) in a move which is intended to cement ENGIE’s leadership in the French renewable energy industry.
ENGIE announced this week the acquisition of the Brittany-based LANGA Group, one of France’s leading independent renewable energy power producers with operations in wind, solar, biogas, and biomass. LANGA currently boasts nearly 215 megawatts (MW) worth of installed power, including 165 MW of solar and 39 MW of wind, and has a pipeline of 1.3 GW due to be completed by 2022.
LANGA also recently solidified itself as a leading player in the most recent solar tender launched by the French Energy Regulation Commission where it came in 3rd, while ENGIE took first place.
ENGIE acquisition of LANGA serves to cement the former’s position as the leading renewable energy producer in France and pairs with the company’s goals of developing nearly 3 GW worth of wind power and nearly 2.2. GW worth of solar by 2021.
“ENGIE and LANGA are among the leading French companies developing solar energy,” explained Gwenaelle Huet, CEO of ENGIE France Renewables. “The alliance of the two Groups and in particular the specific skills of LANGA teams on roofs and ground-based power plants, as well as the general portfolio of projects being developed, will incontestably make ENGIE a leader of the sector in the country. It is thus with great pride that we will welcome LANGA’s personnel to ENGIE.”
“The clarity and determination shown through the acquisition proposal as well as the business proposal put forward by ENGIE were key factors in the decision of the shareholders of the group to project LANGA into the future,” added Gilles Lebreux, founder and CEO of the LANGA group. “The managerial team has gradually been able to position itself as a major actor in the development of renewable energy in France and in particular in 2017, by winning many calls for tender launched by the CRE. The partnership with TERRE et LAC and the support from ASTRIS FINANCE, as financial advisor, have been major factors in the development of the LANGA group as well as in the timeliness of this alliance.”
ENGIE was one of several investors to fund Husk Power Systems, a leading rural distributed utility company which operates mini-grids in Asia and Africa, in January of this year.
ENGIE and LANGA Group declined to comment further.
Follow CleanTechnica on Google News.
It will make you happy & help you live in peace for the rest of your life.