VOLTA announces that it has acquired from Green City more than 40 photovoltaic power plants located in the south of France and in Corsica, for a total capacity of 6.5 MWp and 2 MWh of storage.
A successful acquisition for VOLTA
VOLTA announced the acquisition of a portfolio of more than 40 photovoltaic plants from Green City. The portfolio includes 40 solar roofs and an agrivoltaic greenhouse with a storage unit in Borgo, Corsica. This acquisition will enable VOLTA to extend its territorial coverage in the south of France and in Corsica and to increase by 20% the power of its agricultural photovoltaic roofs in France.
A complex acquisition process
VOLTA acquired these assets as part of the liquidation of the German Green City Group. By June 2022, Green City had already divested its development portfolio. A few months later, thanks to its ability to execute, VOLTA was able to convince the receiver of the Green City group that it offered all the necessary guarantees to ensure a rapid sale of Green City’s French operating assets.
Bryan Cave Leighton Paisner, VOLTA Advisor
VOLTA was advised by the law firm Bryan Cave Leighton Paisner with a team consisting of Jean-Pierre Delvigne, Alice Léveillé, Kai Völpel and Paul Ast (Paris office), with the assistance of Tonio Sadoni (Hamburg office) and Christian Spatz (Berlin office) to assist with the legal audits of the assets as well as with the negotiation of the acquisition of the German holding companies and the French project companies
This acquisition reinforces VOLTA’s ambitious growth plans in the French photovoltaic roofing market. Volta has become a key player in this market segment in just a few years and now intends to accelerate its development to become a major player.
