Acquisition of independent power producer Coruscant serves as a catalyst for Obton’s growth ambitions for a further 100-200 MWp in FranceLast week, Obton announced its acquisition of French independent power producer Coruscant. The deal involves the acquisition of 30 MWp solar projects in operation, while another 20 MWp are under construction. The acquisition is a key part of Obton’s growth strategy in France where the ambition is to expand the existing portfolio by 100-200 MWp in the coming years.
This in one of the largest deals in Obton’s history and consolidates the company’s position as a strong and solid partner with high ambitions – both inside and outside the French market. Coruscant is a well-established and ambitious business that serves as the ideal platform and stepping stone for Obton’s further activities.
"The acquisition of Coruscant has been a key part of Obton’s growth strategy in the French PV market. Indeed, it is deals like this one that allow us to add new PV projects that offer our investors the optimum return/risk ratio," says Anders Marcus, CEO of Obton.
In fact, the ambitions for new PV projects in France are consistent with the attractive pipeline, which Obton will now benefit from following the acquisition of Coruscant.
Chief Legal Officer at Obton, Mikkel Berthelsen, explains: "Besides the 50 MWp initially secured by the deal, we have great expectations for the pipeline which the skilful employees at Coruscant have created over the past years and which we will now realise together. We believe that Coruscant’s and Obton’s competences complement each other perfectly and very much look forward to our future cooperation."
STRONG PRESENCE IN FRANCE
During the past years, Obton has established several local representations in many of its core markets; a must in order to maintain and develop the market position in the relevant markets, and France is no exception.
"With the acquisition, we enhance our already sound business in France and become even better at acting agilely and dynamically. This is absolutely vital in the competitive French market. We now have a strong local presence and have added some highly qualified employees, who will contribute with experience and solutions. This will, without a doubt, put us in a stronger position than before," concludes Obton’s CEO, Anders Marcus.
Coruscant is participating in several competitive tender procedures in France, and Obton expects that the first projects in the pipeline can be realised during 2018.