KKR offers to buy renewable energy producer Albioma

dollar in renewable energy

KKR & Co., a leading global investment firm, has made an offer to buy Albioma SA, a renewable energy producer in France, with the financial support of CDPQ, an investment group.

CDPQ, the main lender in the transaction, alongside other commercial lenders and banks, has provided part of the EUR 485 million (approximately CAD 650 million) acquisition financing to support the tender offer.

Albioma operates over 1 GW of installed capacity around the world, through thermal, solar and geothermal power assets, mainly in French metropolitan and overseas territories.

Albioma, as part of its strategy to support the energy transition, aims to end coal use by 2025 by pursuing the conversion of its coal fired power plants into primarily residual biomass power plants and generate 100 percent of its electricity from renewable energy by 2030.