Valorem Secures €200 Million Funding for Renewable Projects as 3i Exits Stake

French wind-farm developer Valorem SAS is set to raise €200 million (about $219 million) to support its future projects from AIP Management P/S and Credit Agricole SA.

The company announced it has received a “firm offer” for funding from the Danish pension fund manager and the private equity unit of the French bank. Valorem’s founders, their families, and employees will maintain the majority of the company’s shares and voting rights.

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At the same time, 3i Infrastructure Plc plans to sell its 33% stake in Valorem to AIP and other investors. The Danish firm stated that co-investors have agreed to additional capital commitments to support Valorem’s upcoming projects. UK-based 3i expects to make around €309 million from this sale.

These transactions highlight continued investor interest in renewable energy, despite recent political instability in France and the European Union, which has raised concerns about certain green policies and the costs associated with transitioning from fossil fuels.

The funding, which will also include an unspecified amount of bonds, will initially be used for solar and wind farm projects in France and later expand to countries like Poland, Finland, and Greece around 2027 and 2028, according to Valorem’s Chief Financial Officer Tristan Maes in an interview with Bloomberg.

Both deals are anticipated to close in the first quarter of the upcoming year. Astris Finance, BNP Paribas, and Lazard served as financial advisers for Valorem.