ACOFI Gestion cède deux portefeuilles d’actifs photovoltaïques et éoliens de 126 MW à EOS Holding et au Groupe Romande Energie

ACOFI Gestion a cédé à EOS Holding et au Groupe Romande Energie via sa filiale Romande Energie France, deux portefeuilles d’actifs photovoltaïques et éoliens en exploitation situés en France continentale. Cette cession a été réalisée le 27 mars 2020 pour le compte de son Fonds Transition Energétique France qui a désormais cédé plus de 75% de ses actifs.

Le premier portefeuille est constitué de plusieurs centrales photovoltaïques au sol pour une puissance de 48MWc. Le deuxième portefeuille d’une puissance de 78MW est constitué de 3 parcs éoliens pour une puissance de 37MW et d’un ensemble diversifié d’actifs photovoltaïques. Ces actifs produisent chaque année 195 GWh d’énergie verte soit la consommation de plus de 39’000 foyers et permettront d’éviter ainsi l’émission de 114’700¹ tonnes de CO₂.

Ces actifs avaient été acquis entre 2014 et 2017 dans le cadre d’acquisitions majoritaires par le Fonds Transition Energétique France. Ces portefeuilles homogènes sont désormais détenus et opérés sur le long terme par deux acteurs industriels de l’énergie qui renforcent leurs présences en France.

Au terme de cette cession, le Fonds Transition Energétique France aura cédé plus de 75% de son portefeuille initial de 180MW d’actifs EnR situés en France Métropolitaine : « Avec cette opération, ACOFI poursuit la stratégie de cession de l’ensemble de ces actifs photovoltaïques et éoliens de son 1^er fonds dédié aux énergies renouvelables et démontre ainsi sa capacité à créer de la valeur pour ses investisseurs institutionnels. Cette opération, particulièrement complexe, a pu être menée à son terme dans l’environnement inédit de la crise sanitaire, grâce au professionnalisme et à la persévérance des équipes depuis le début des négociations. La maîtrise de cette opération par l’équipe Acofi Gestion la conforte dans sa volonté de poursuivre l’élargissement de son offre globale en matière de financement de la transition énergétique » déclare Philippe Garrel, Directeur du fonds.

Dans le cadre de cette transaction, EOS Holding fait l’acquisition d’une participation de 100% dans l’ensemble ENRTEF 1 et de 29% dans la société Groupement Solaire Cestas 2 détenant 4 des 25 tranches de la centrale solaire de Cestas. Cette transaction avec Acofi Gestion permet à EOS Holding de disposer désormais d’une capacité d’environ 475 MW.

Dans le cadre de cette transaction, Romande Energie fait l’acquisition d’une participation de 51% dans la société Groupement Solaire Cestas 2. Tanguy de Parcevaux, Directeur Général de Romande Energie France, déclare: « Cette acquisition confirme l’ambition de développement de Romande Energie en France et vient compléter son portefeuille d’actifs éoliens et hydro-électriques constitué depuis 2013. Dans un contexte très difficile de confinement, les équipes ont su faire preuve de créativité pour amener la transaction à son terme. En effet, le closing, et c’est une première pour une opération d’une telle ampleur, a pu se faire à distance avec l’ensemble des parties prenantes. »

¹ Source EY basé sur le rapport “Methodologies for the Assessment of Project GHG Emissions and Emission Variations”, v10.1 publié en 2014 par la Banque Européenne d’Investissement.

Sustainable Swiss Solution for Alpiq

EDF, Primeo Energie and EOS agree acquisition of 25% Alpiq stake from EDF.

Münchenstein/Lausanne/Zurich, 5 April 2019 – Following the approval given by their respective governance bodies, Électricité de France (EDF), Primeo Energie (formerly EBM; member of Consortium of Swiss Minorities) and EOS Holding SA (EOS) signed an agreement on the purchase of EDF’s stake in Alpiq. The current shareholders Primeo Energie and EOS are increasing their shareholding by jointly acquiring the EDF stake on a parity basis. The acquisition will be financed by CSA Energy Infrastructure Switzerland (CSA), the largest investment solution for Swiss energy infrastructure backed by 135 Swiss pension funds, through mandatory exchangeable loans. The mandatory exchangeable loans will be converted into Alpiq shares on maturity. Primeo Energie and EOS are thus paving the way for a Swiss ownership structure of Alpiq.

Alpiq is a major Swiss power producer with highly flexible power plants as well as an international trading and retail business to ensure optimal commercialization of the portfolio. With a contribution of between 15% and 20% to Switzerland’s overall electricity production, Alpiq’s generation assets are important in the context of Switzerland’s Energy Strategy 2050.

With the purchase of EDF’s stake, the Consortium of Swiss Minorities (incl. Primeo Energie), EOS and CSA now hold 88% of Alpiq. The company is intended to be taken private. Due to the company’s opting-out in its articles of association, the transaction does not trigger a mandatory offer and any potential voluntary public offer would not be subject to the minimum price under the Swiss public takeover rules. The acquisition of the shares is subject to approval by the German Bundeskartellamt. This transaction values EDF’s stake in Alpiq at approximately CHF 489 million, based on a purchase price of CHF 70 per Alpiq share.

The completed sale of the engineering services business in 2018 focused Alpiq’s business model and strengthened the balance sheet. Alpiq will also enter into long-term offtake agreements. In the long-term, the Swiss Federal Energy Strategy 2050 includes the phasing out of nuclear power. Consequently, Alpiq will in particular focus on maintaining and further developing hydropower in Switzerland.

Acquisition of a ground-mounted photovoltaic power plant in Portugal

EOS Holding has acquired the “Parque Fotovoltaico Hercules”, a new ground-mounted photovoltaic power plant in the Beja region of south-eastern Portugal.

Commissioned in 2007, this installation is equipped with Sunpower, Suntech and Sanyo panels mounted on trackers and has an installed capacity of 10 MW delivering an annual production of around 20.5 GWh. It becomes the third EOS Portugal solar power plant in a country which boasts both ideal sunlight conditions and an environment conducive to the development of renewable energy.

Plans to build Chavalon gas-fired plant dropped

The shareholders of Centrale Thermique de Vouvry (CTV SA) are dropping plans to build a gas-fired power plant in Chavalon. This decision is due to unsuitable regulatory and business conditions in the power industry. Their entire interest has been divested to the Orllati Group.

CTV SA was planning to build a combined-cycle natural-gas plant on the Chavalon site, situated within the municipality of Vouvry, in the canton of Valais. The plant had a projected capacity of 400 megawatts (MW), representing an annual output of 2-3 terawatt-hours and meeting the electricity demand of some 500,000 households.

Following detailed analysis, however, the shareholders of CTV SA – EOS Holding (95%) and Romande Energie (5%) – are abandoning this generation project on account of business and regulatory conditions. Lower power prices on the Swiss and European wholesale markets, compounded by a rise in the cost of CO2 emission offsets, have jeopardised the power station’s profitability.

Furthermore, permit procedures have been taking longer than expected. An appeal lodged against the approved building permit is still awaiting a hearing by the Valais cantonal court. At the same time, permit approvals by the Swiss Federal Office of Energy (SFOE) for a new gas pipeline and a 380 kilovolt power line are still pending. The power plant was initially planned to coincide with the first implementation phase of the federal government’s Energy Strategy 2050. It now seems, however, that gas-fired plants may no longer be part of the equation.

Site to be rehabilitated
EOS Holding and Romande Energie have sold their entire interest in CTV SA to the Orllati Group, which consequently now owns the Chavalon site. The Orllati Group, a mainstay in the Western Swiss construction industry, has been expertly decommissioning and rehabilitating the site since February 2009. It will continue to be responsible for this process.

EOS Holding and Romande Energie are mindful of current and prospective conditions in the Swiss power industry, especially with the Energy Strategy 2050 due to come into effect. They therefore plan to focus investments on supporting hydropower and developing other sources of renewable energy – areas in which they have already made substantial progress.

EOS HOLDING ACQUIRES A NEW PORTFOLIO OF RENEWABLE ENERGY ASSETS TOTALLING MORE THAN 100 MW

EOS Holding is taking over a European portfolio of renewable energy assets with a total installed capacity of around 100 MW from Omnes Capital, a key player in investment capital and infrastructure investments, managing over 2.1 billion euros. The portfolio comprises 4 wind farms and 4 solar plants located in France and Portugal, built between 2010 and 2013. The 4 wind farms are in the Picardy, Burgundy and Poitou-Charentes regions of France, and have a total capacity of almost 50 MW. The 4 solar plants are in Portugal and in the Aquitaine area of France. These boast a total production capacity of 60 MW, notably including a part of the Cestas solar plant, Europe’s largest solar park (installed capacity of 300 MW). This acquisition enables EOS Holding to increase its capacity in new renewable energies, specifically in terms of ground-mounted solar photovoltaic plants.