Eiffage takes controlling stake in Sun’R Group

French construction and concessions company Eiffage SA (EPA:FGR) has bought a stake of nearly 75% in local solar developer Sun’R Group with a plan to boost its shareholding to over 80% next year.

The deal was carried out through Eiffage Concessions and is aimed at expanding Eiffage’s business into renewable energy.

The financial details of the investment were not revealed. The remaining minority shareholding in Sun’R was kept by founder Antoine Nogier and the management team.

Set up in 2007, Sun’R specialises in the development and production of photovoltaic (PV) electricity with a portfolio of more than 100 MWp in operation and another 300 MWp under development. The company also has an agrivoltaics unit, which has 220 hectares already covered or at an exploratory stage, equivalent to a power rating of around 150 MWp. Its green and local electricity supply division, Volterres, is expected to deliver this year 600 GWh to 10,000 businesses through a network of over 40 partner renewable power plants.

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