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France’s Groupe Casino to sell GreenYellow renewables unit

A solar array built by GreenYellow in Madagascar
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From pv magazine France

French retail giant Groupe Casino plans to sell its renewable energy unit, GreenYellow. It said in a press release that it aims to complete the sale of the company by the end of this year, without disclosing further details.

French financial daily Les Echos recently reported that Groupe Casino had started preparing to sell its renewable energy unit for around €1.5 billion ($1.57 billion). It said that French energy giants Engie and TotalEnergies have emerged as potential buyers.

Groupe Casino currently holds a 72,3 % stake in GreenYellow, while the remaining stake is owned by French public investment bank Bpifrance and Paris-based asset manager Tikehau Capital.

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GreenYellow, which recently raised €200 million of fresh funds, was set up by Groupe Casino in 2007. In 2016, the solar unit obtained authorization to implement the sale of power to final clients and power providers through its subsidiary, GreenYellow Vente d’Énergie. The company has mainly installed solar projects on the French mainland and in the nation’s overseas territories, as well as French-speaking Madagascar.

In 2018, GreenYellow and Engie set up a solar joint venture to develop PV projects for self-consumption purposes.

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Source: pv magazine