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Korys acquires majority stake in on-shore renewable energy company Eurowatt
The acquisition of a majority stake in Eurowatt provides Korys with a strong on-shore renewable energy platform, while enabling Eurowatt to execute a targeted growth and diversification plan.
Eurowatt is a Luxembourg-based renewable energy holding which develops, owns and operates renewable energy assets. The company has an operational portfolio of 185 MW, consisting of on-shore wind parks and a number of mini-hydropower plants. Eurowatt is predominantly active in France, but also operates assets in Spain, Portugal, and Poland.
The entrance of Korys will enable the company to further strengthen its position as a leading independent renewable energy producer in France, while building critical scale in one or more other European markets. Both the company’s management and founding shareholders have renewed their commitments to the company and stay on board to execute the next phase in the company’s growth trajectory.
Eurowatt will be a key strategic pillar in Korys’ renewable energy strategy, complementing its investments in off-shore wind assets via its participation in Parkwind, with a European on-shore platform.