French private equity firm Ardian Infrastructure has agreed to buy a majority stake in Groupe Casino's renewable energy unit GreenYellow.
GreenYellow is estimated to be worth about 1.4 billion euros, Ardian said.
Before the transaction, Groupe Casino held a 72.3% stake in GreenYellow, with the rest held by French public investment bank Bpifrance and Paris-based asset manager Tikehau Capital.
GreenYellow recently raised €200 million in new funding and was founded in 2007 by Groupe Casino. In 2016, the solar division was authorized to implement electricity sales to end customers and electricity suppliers through its subsidiaries. The company mainly installs solar projects in mainland France and the country's overseas territories, as well as in French-speaking Madagascar.
In 2018, GreenYellow and Engie formed a solar joint venture to develop self-consumption PV projects.
