Akuo’s renewable portfolio hits $1bn

The French group has purchased two solar power farms in Gard, in southern France. Both projects have the capacity to deliver 5.89MW of power to the grid and propel Akuo to a renewable energy portfolio worth $1 billion.

Akuo Group, an investment manager and developer of alternative power domiciled in France, has purchased a pair of solar farms dubbed the Broussan and Chateau projects through subsidiary Akuo Energy.

Both facilities are located in Gard, a southern region of France, and have the capacity to produce a combined 5.89 megawatts of solar power. Including these most recent acquisitions, Akuo Energy has invested about $1 billion in renewable power across solar, wind and biomass projects since 2008, when the group was formed.

“Given the tough economic context during the past four years, we are very happy and proud to have achieved the group’s first financial milestone,” noted Eric Scotto, the chief executive officer at Akuo Energy, in a press release.

The Akuo Group is an international entity comprised of an investment management and advisory arm, which is dedicated to the renewable energy space. Akuo Energy is a private firm that produces power from renewable energy across Europe, including Turkey, as well as North America and South America.

Incidentally, the Gard region is also host to the Marcoule nuclear power site, at which there was a fatal explosion in September.