French investment firm Mirova and BNP Paribas Asset Management (BNPP AM) have committed over €200 million ($210.6 million) to acquire significant stakes in Arkolia, a French green energy producer targeting a portfolio of nearly 1.5 GW in the coming years.
The two investors will each take “an equal, large equity stake” in the company, purchasing shares from Arkolia’s historical co-founders’ heirs and a group of minority shareholders. Jean-Sébastien Bessière, Arkolia’s co-founder and current president, will retain his role as a key shareholder alongside the company’s employees.
Founded in 2009 and headquartered in Mauguio near Montpellier, Arkolia operates as a fully integrated developer and independent power producer (IPP) specialising in rooftop photovoltaics, ground-mounted solar, and wind energy. By 2023, the company had achieved an operational installed capacity of 562 MW.
The new investment will enable Arkolia to expand its project pipeline, enhance its national presence, and invest in its workforce, aiming to grow its portfolio and surpass €500 million in annual revenue in the near future.
The deal, subject to regulatory approval, is expected to close in the first half of 2025. Mirova is channeling the investment through its Energy Transition Fund 6 (MET6), while BNPP AM is utilising its Low Carbon Transition Infra Equity Fund I.
