Paris-based asset manager Infranity has acquired a “significant minority” stake in French solar developer and independent power producer (IPP) Terre et Lac.
The investment will support Terre et Lac’s growth plans as it expands across France and hires more professionals to accompany further development, Infranity said on Tuesday without disclosing financial details.
Founded in 2009, Terre et Lac’s achievements include development, construction and operation of more than 400 MW of solar power solutions, from residential rooftop solar to ground-mounted plants across France. Its portfolio could reach 1,000 MW of capacity under construction or operation by 2030 thanks to its project pipeline, Infranity said.
Currently employing 80 professionals, the solar IPP aims to increase to workforce to more than 130 employees by the end of 2026.
“Terre et Lac has now a proven track record in developing solar projects and we are proud to have built this long-term partnership with such an experienced team,” said Romain Le Melinaidre, Executive Director, Equity Investment Team at Infranity.
“We have been impressed by the quality of the existing asset base and the Company’s existing skills across the entire chain of solar solutions development. Infranity will help this platform in its next phase which represents a natural fit with our investment strategy,” Melinaidre added.