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GreenYellow acquires ENGIE's stake in their joint venture Reservoir Sun

GreenYellow acquires ENGIE's stake in their joint venture Reservoir Sun

  • GreenYellow acquires the 50% stake held by ENGIE in Reservoir Sun, their joint venture founded in 2018, which has become a leader in solar self-consumption in France over the past 5 years.
  • Reservoir Sun becomes a 100% subsidiary of the GreenYellow Group, integrated into its activities in France.
  • This significant French acquisition aligns with the ambition of GreenYellow, a company in the Infrastructure portfolio of Ardian - a world leading private investment house, to intensify its acquisition process and accelerate its expansion in the European market for decentralized energy transition.
  • ENGIE chooses to continue its development in decentralized solar by fully integrating it into a comprehensive proposal for decarbonization of all energies on its clients' sites.

GreenYellow announced today that it has successfully concluded the acquisition of 50% of ENGIE's shares in Reservoir Sun.

Since 2018, ENGIE and GreenYellow have been engaged in an ambitious partnership, leading to the establishment of Reservoir Sun. Over the past 5 years, Reservoir Sun has emerged as a leader in solar self-consumption for tertiary and industrial businesses, as well as local authorities in France. It has become a key player in the deployment of multi-site projects and large-scale programs. The company has developed an installed or under construction capacity that will exceed 150 MWp across 350 solar installations by the end of 2023. Additionally, Reservoir Sun has a project pipeline of 1.2 GW. The company anticipates substantial growth in its achievements in the coming years, supported by a regulatory framework favourable to solarization in its market segments.

With a team of 80 expert professionals, Reservoir Sun is firmly established nationwide, with offices in Marseille (the company's headquarters), as well as in Lyon, Paris, and Toulouse. This national presence equips the company with the capability to provide efficient support to its clients throughout the country.

The integration of Reservoir Sun within GreenYellow's activities in France will accelerate the company's growth in the French photovoltaic solar energy market. As for Reservoir Sun, the company will benefit from the advantages offered by GreenYellow's comprehensive platform of fully financed solutions. This platform has been developed by the GreenYellow Group and includes access to its ecosystem of European partners and clients, fostering synergies.

As part of Ardian's Infrastructure portfolio since October 2022, GreenYellow, through this operation, strengthens its position as a major operator in decentralized photovoltaic infrastructures and continues its acceleration in Europe during a crucial period for energy transition. Leveraging its integrated platform of 100% financed solutions, including decentralized solar production, energy efficiency projects, energy services, and the promotion of electric mobility, the company addresses the significant challenges faced by businesses and communities. GreenYellow aims to support them in their decarbonization journey.


" We are delighted to be continuing our adventure with GreenYellow and we would like to thank the Group and ENGIE for their valuable support, which has enabled Reservoir Sun to become the market leader in self-consumption in France in just 5 years. Joining the GreenYellow Group will open up new prospects for growth in a buoyant market. By being integrated into GreenYellow's French teams, we will be able to mutually enrich our solar offerings with energy efficiency and electric mobility solutions to seize every opportunity in the energy transition market," says Mathieu Cambet, CEO of Reservoir Sun.

"The integration of Reservoir Sun within GreenYellow is a growth catalyst in France, positioning GreenYellow as a key player in the decentralized solar energy sector. This collaboration allows us to accelerate our expansion in Europe. Over the past five years, Reservoir Sun has developed strong expertise, built a substantial client portfolio, and established a robust territorial presence. These strengths will enhance the comprehensive platform that GreenYellow offers its clients throughout the entire energy value chain," emphasizes Otmane Hajji, President of GreenYellow.

"After these 5 years of collaboration, we extend our thanks to the teams at Reservoir Sun and GreenYellow for the journey we have undertaken together. The new positioning we have chosen will provide ENGIE in France with greater flexibility and internal synergies to address the comprehensive decarbonization challenges of our clients. Decentralized solar and the storage of this electricity remain at the core of our know-how and will complement our actions in decarbonization, energy efficiency, and carbon-neutral mobility," says Frank Lacroix, Deputy CEO of ENGIE in charge of Energy Solutions activities.