Marguerite To Invest EUR 60 Million In New Solar Platform

Luxembourg-based renewable energy provider Marguerite has announced that it will be investing up to EUR 60 million in an investment platform that will work to develop greenfield solar power projects.

Marguerite held that the investment platform will seek to develop a portfolio of over 2GW of developed and in-development solar power plants in the coming six years. Marguerite will look to add this portfolio through Josef Kastner and Chloe Durieux, top executives of the company who have decades of combined experience as far the renewable energy sector is concerned.

Marguerite said that it will be building greenfield utility-scale solar power projects in European countries that will include France, Spain, Italy, Germany, Austria and Poland.

Guillaume Rivron, Partner at Marguerite, stated on the new investment, “The rationale behind our decision to invest in this platform was that this market benefits from high premiums for ready-to-build assets, and an agile approach is critical to respond quickly to changes in market conditions and take advantage of new opportunities as they arise.”

He further added, “There is a substantial amount of investment required in this sector, but there is a lack of focus on the initial part of the value chain: the development of projects. Our partnership with Josef and Chloe, combined with our European presence and sector knowledge, will allow us to quickly adapt to this market and invest in high-quality assets that will generate substantial value for our investors and future clients.”

Marguerite is a pan-European investor in long-life infrastructure that focuses on renewable energy, water and digital spaces to enable sustainable growth of economies. In the past decade, the company has invested about EUR 1.5 billion through 31 different investments in 14 countries in diversified portfolio that includes solar, wind, biomass energy and so on.

Marguerite recently led a successful funding round of EUR 40 million for ZE Energy, together with French local utility Groupe Sorégies and historical shareholders Demeter, HTGF, EverWatt and ZE Way Invest. ZE Energy is a French integrated, independent power producer that develops, builds and operates hybrid solar-plus-storage power plants.