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LONDON (Alliance News) - Infrastructure investment fund 3i Infrastructure PLC on Thursday said it has agreed to invest around EUR69.0 million in French renewable energy company Valorem.
Under the deal, 3i Infrastructure will acquire a 28.5% stake in Valorem and provide further capital to the company through a subordinated debt instrument. The remaining equity will be retained by the existing management team at Valorem and minority shareholders.
Valorem is among the largest wind power developers in France, 3i Infrastructure said.
"We are pleased to be investing in Valorem, which fits our strategy of investing in low-risk energy platforms with strong growth potential backed by an experienced management team in order to achieve attractive returns for 3i Infrastructure's shareholders," said Richard Laing, 3i Infrastructure's chairman.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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