Paris, the 23 january 2012
Crédit Agricole Private Equity, through its Capenergie
2 fund, participates in a capital increase of abakus solar
AG, a leading German wholesaler, developer and installer of
photovoltaic infrastructure projects. Crédit Agricole Private
Equity and abakus solar also set up the infrastructure
holding "abakus solar Power", a holding designed to
invest in the company's projects. Crédit Agricole Private
Equity's overall investment amounts to €10 million.
With offices in Gelsenkirchen (head office), Cologne, Munich
and Berlin, abakus solar is a developer and installer of
photovoltaic rooftop and ground-mounted installations as well
as wholesaler of complete installation kits (panels &
inverters). abakus solar operates in the German market and
has a strong presence in selected key markets outside of
Germany such as Italy, Taiwan and the USA. The company has
followed a promising growth trend since 2008 and expects a
turnover of €112 million in 2011. It has 95 employees.
Germany is the world's strongest photovoltaic market with
7.4 GWp of new photovoltaic installations and a 44.5% share
of newly installed capacity worldwide in 2010.
The investment of Crédit Agricole Private Equity will enable
abakus solar to step up its international development and to
secure a third party investment solution for the financing of
its photovoltaic infrastructures.
Marc-Philippe Botte, Director Renewable Energy at Crédit
Agricole Private Equity, comments: "We are delighted to
invest in abakus solar, which has the potential to become one
of Europe's leading photovoltaic companies. Our capital
injection will enable abakus' strong management team to
further accelerate its international expansion."
Serge Savasta, Head of Renewable Energy at Crédit Agricole
Private Equity, adds: "Our investment in abakus solar is
further evidence of the success of our dual investment
approach, which was already successfully implemented in
France, Belgium and Italy. We are delighted to duplicate this
strategy in Germany, which is historically the strongest
photovoltaic market in Europe."
Thomas Sandner, CEO of abakus solar, concludes: "We are
delighted to have found a financial partner with a profound
knowledge of the photovoltaic sector. Credit Agricole Private
Equity will bring not only money, but also significant
strategic insight to the table."
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