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Velto Renewables and Q ENERGY join forces to acquire 530 MW in Europe

Velto Renewables, backed by Caisse de dépôt et placement du Québec (CDPQ), and Q ENERGY have signed an agreement to acquire renewable energy projects in Europe. An initial portfolio of 130 MW has been acquired in France, with an additional 400 MW planned in Spain and Portugal.

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Velto Renewables, a renewable energy producer backed by CDPQ, has announced a partnership with Q ENERGY, a key player in the European renewable energy sector. This agreement outlines the acquisition of an energy project portfolio across multiple European markets, strengthening the presence of both companies on the continent.

An initial portfolio in France

The first transaction under this partnership involves the acquisition of projects with a total capacity of 130 MW in France. This portfolio includes two photovoltaic solar power plants, two onshore wind farms, and a floating solar farm, Les Îlots Blandin, built on former industrial gravel pits. This project, presented as Europe’s largest floating solar farm, is based on technology that enables the utilisation of new surfaces for electricity generation.

Expansion planned in Spain and Portugal

In the coming weeks, the partners plan to finalise transactions for an additional 400 MW portfolio in Spain and Portugal. This initiative aims to diversify their geographical presence and increase their production capacity in rapidly evolving markets.

Deployment and production capacity

The acquired French projects are expected to be progressively commissioned between spring 2025 and early 2026. Once fully operational, these assets could generate over 210,000 MWh per year, equivalent to the electricity consumption of more than 50,000 households.

Lucas de Haro, CEO of Velto Renewables, stated that this partnership represents a strategic milestone for the company, enabling it to expand its installed capacity and strengthen its position in the European market. Junu Lee, CEO of Q ENERGY, highlighted that this agreement demonstrates the attractiveness of their projects and their expertise in the renewable energy sector.

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