Alternative asset manager Ardian has announced the acquisition of Akuo, a French renewable energy producer, thereby strengthening its position in the energy infrastructure sector. Founded in 2007, Akuo had an installed capacity of 1.9 gigawatts (GW) by the end of 2024, distributed across photovoltaic, wind and energy storage assets. The financial details of the transaction were not disclosed.
International expansion and projected growth
According to the press release issued on 24 March, Akuo currently operates in around ten key markets across Europe, North America and South America. The company aims to increase its installed capacity to 5 GW by 2030, relying on operational optimisation and technological innovation. Ardian is expected to accelerate this trajectory through its financing capabilities and global asset network.
Strategic backing and investment track record
Since 2022, Akuo had been backed by Intermediate Capital Group (ICG), an asset management firm. Ardian, which currently manages USD177bn (approximately EUR163bn) across various segments including infrastructure and private debt, brings new scale to Akuo. This acquisition forms part of Ardian’s strategy to strengthen its portfolio of assets linked to the energy transition.
Ardian’s position in infrastructure
Ardian also holds a 32.6% stake in London Heathrow Airport, where it is the principal shareholder. The French investment firm has expanded its strategic asset holdings in recent years, particularly across the transport, energy and utility sectors.
