Ardian signed an agreement to acquire Akuo, a France-based independent renewable energy producer, as it strengthens its position in the global energy transition sector.

Backed by ICG since 2022, Akuo develops and operates wind, solar photovoltaic, and energy storage projects across Europe and the Americas. The company expects to reach 1.9 GW of installed and storage capacity by the end of 2024, with ambitions to scale to 5 GW by 2030.

Ardian will use its sector expertise and financial strength to accelerate Akuo’s next growth phase and support its expanding development pipeline. The private equity firm currently manages more than $35bn in infrastructure assets, including over 8 GW of thermal and renewable energy capacity across Europe and the Americas.

The acquisition aligns with Ardian’s long-standing investment strategy in clean energy, dating back to 2007. The transaction is pending regulatory approvals and consultation with relevant employee bodies.