Rubis to acquire stake in French solar energy firm Photosol

Rubis to acquire stake in French solar energy firm Photosol

Rubis has become an integrated multi-energy group with the acquisition of Photosol, a leading French solar energy player.

The creation of a new division – Rubis Renewables – which is dedicated to the development of renewable energy, means renewables has become a new pillar of the Rubis strategy, next to the two longstanding pillars: Rubis Énergie and Rubis Terminal.

Jacques Riou, Rubis’ managing partner said: “Through this acquisition Rubis takes strategic step towards diversifying into renewable energy, following our cooperation with HDF Energy in June 2021. Photosol management has developed organically one of the largest independent solar energy companies in France and has an excellent reputation in the market. Both companies share same culture and values. Following this acquisition, Rubis will maintain solid financial structure and continue with its shareholder friendly dividend policy while investing in organic and external growth opportunities.”

Clarisse Gobin-Swiecznik, Rubis’ managing director said: “The combination of Rubis know-how with the specific skills of Photosol teams will allow us to develop new projects and become a leader in France regarding both ground-mounted and rooftop plants. We are extremely pleased to welcome a talented management team as well as developers within Rubis, both companies aiming to offer more sustainable solutions to the market.”

Robin Ucelli, David Guinard, founder, president and Benoit Farines, CEO and deputy CEO of Photosol, stated: “We are excited to join Rubis Group with its entrepreneurial culture, strong international presence and growth ambitions. We have been impressed by the similarities between Rubis and Photosol in the way both companies have developed focusing on the niche segments. The management team looks forward to working closely with Rubis to develop and expand footprint and create more value to all our stakeholders.”

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5th January 2022