The FINANCIAL — 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, according to Crédit Agricole.
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, 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 . 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.
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