Valorem to Get €200 Million From AIP, Credit Agricole fort Renewables as 3i Exits
- 3i set to net €309 million as it sells stake in French company
- Deals indicate investors are still eager to finance renewables
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French wind-farm developer Valorem SAS is poised to raise €200 million ($219 million) to fund future projects from AIP Management P/S and Credit Agricole SA.
Valorem got a “firm offer” for funding from the Danish pension fund manager and the French bank’s IDIA private equity unit, it said in a statement Monday. The company’s founders, their families and the group’s employees would continue to hold the majority of Valorem’s capital and voting rights.