FRANCE: Teasers out for Impax-owned onshore wind & solar PV developer Energiter

Impax Asset Management has started circulating teasers for the sale of French renewables developer and IPP Energiter.

The UK-based fund manager via its New Energy Investors III fund acquired Energiter (then Eurocape) in late 2018, and has since overseen the continued development of multiple of the company’s onshore wind and solar PV projects across France over recent years, including a circa 77MW portfolio of largely operational solar projects divested to Swiss investor Quaero in summer 2022.

The group’s financial advisor, Rothschild & Co, issued teasers to prospective bidders on Tuesday (May 21) and is forecast to follow up with NDAs and an IM in mid-June, with non-binding offers to then fall due by late July, according to market sources.

Energiter currently owns and operates around 70 MW of installed onshore wind capacity, while its development pipeline stands at around 1.5 GW, of which around two-thirds is onshore wind and the remainder solar PV.

The price tag for the company has been put very roughly at up to EUR 200m.

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