February 27, 2017 – Singapore. ConstantEnergy is pleased to announce that it has closed its acquisition of Solareo Pte Ltd projects and platform in South East Asia, consisting of over 30MW of solar PV rooftop projects in South East Asia.
Franck Constant, President of ConstantEnergy commented: “This is an exciting acquisition for us for three reasons. One it is the first acquisition for our new fund in Asia. Second, the acquisition brings on board ConstantEnergy a South East Asia-based team of professionals dedicated to PV plant development, construction and asset management with over 50 year cumulative Asian experience. Lastly, Solareo Asia has made in-roads into the fast growing market of PV industrial sales at grid party without subsidies, entering long term contracts with world-class large scale industrial clients for the direct supply of on-site competitive, 100% renewable electricity, enabling its industrial clients to become more competitive on the world market..
“We are pleased to join the ConstantEnergy team, as they have a proven track record in developing robust long term partnerships, deploying IPP financing and extensive experience in managing large scale power projects across multiple geographies”, added Romain Maire , Regional Director of Solareo Asia
“We are delighted to welcome and integrate the Solareo Asia team into our group and step up our operation in the Asia region that is expected to deploy the highest amount of new MW of solar power over the next 5 year. They will reinforce our Asian presence and bring synergies to the development of our new renewable power projects not only in the PV rooftop IPP market but they will also benefit from our expertise in the large scale ground-mounted PV IPP market”, added Constant.
ConstantEnergy is a renewable electricity generation and storage investment platform which invests and manages high-quality power assets in selected countries.
Constantenergy’s team is specialised and experienced. We personally manage our international assets with a long-term outlook. We firmly believe that only local and active asset management can achieve the targeted return on a long-term basis.
Solareo in an Independent Power Producer and developer specialized in solar plants. Created in 2005 in France, the company has developed worldwide more than 400 projects commissioned, totaling 160MWp .
Since 2016, the company focuses on the development of projects on its historical markets in Europe, as well as in African countries where solar energy offers a highly competitive and reliable solution for electricity generation.