ALTAREA : Altarea acquires Prejeance Industrial and enhances its photovoltaic installation development platform in France

Press release                                                                                                                                          Paris, July 4th 2024, 5:45 PM

Altarea acquires Prejeance Industrial and enhances its photovoltaic installation development platform in France

Altarea announces that it has finalized today the acquisition of Prejeance Industrial from the spanish group Repsol. This operation enhances the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap.

Founded in 2019, Prejeance Industrial (PI) is a French company specializing in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kWp^[1]), mainly on agricultural sheds. Its experienced team (18  employees) is involved at all stages of the solar power project lifecycle: development, construction, asset management, financing/refinancing. These installations provide genuine renewable energy solutions, while offering farmers additional income and agricultural equipment with no aditionnal cost. As of the end of June 2024, the company owns and operates a total installed capacity of over 42 MWp entirely located in France and is developing a controlled project pipeline of nearly 400 MWp, including 41 MWp under construction.

The investment amount is approximately €140 million (including approximately €25 million of goodwill and €115 million of solar power plants in operation, in construction or under development). PI will be consolidated into the Group's accounts starting from the second half of 2024.

Indicative financial calendar 2024 

Half-year results 2023:                                         30 July 2024 (after trading)

ABOUT ALTAREA - FR0000033219 - ALTA

Altarea is the French leader in low-carbon urban transformation, with the most comprehensive real estate offering to serve the city and its users. In each of its activities, the Group has all the expertise and recognised brands needed to design, develop, market and manage tailor-made real estate products. Altarea is listed in compartment A of Euronext Paris.

FINANCE CONTACTS

Eric Dumas, Chief Financial Officer                                 Agnès Villeret - KOMODO

edumas@altarea.com, tel: + 33 1 44 95 51 42             agnes.villeret@agence-komodo.com, tel: + 33 6 83 28 04 15

Pierre Perrodin, Deputy CFO                                            For any questions: investors@altarea.com pperrodin@altarea.com, tel: + 33 6 43 34 57 13          More information: www.altarea.com/en/finance/investors

PRESS CONTACTS

Denise RODRIGUES-VIELLIARD, PR manager                 Marion LEBEL - SHAN

drodrigues@altarea.com, tel: +33 6 37 36 24 14         marion.lebel@shan.fr, tel:  +33 6 76 02 57 47

Disclaimer 

This press release does not constitute an offer to sell or solicitation of an offer to purchase Altarea shares. For more detailed information about Altarea, please refer to the documents on our website. This press release may contain certain forward-looking statements that are based solely on information currently available and are only valid as of the date of this document. They are not guarantees of the Altarea Group's future performance. While Altarea believes that such statements are based on reasonable assumptions at the date of publication of this document, they are by nature subject to risks and uncertainties which are unknown or that Altarea is unable to predict or control which may lead to differences between real figures and those indicated or inferred from such statements. This press release must not be published, circulated, or distributed, directly or indirectly, in any country in which the distribution of this information is subject to legal restrictions.