Asset manager Tikehau Capital and investment bank Bpifrance SA are investing €150 million through a capital increase in energy supply services provider GreenYellow, a subsidiary of French retailer Casino Guichard-Perrachon Société Anonyme.

According to Oct. 12 news releases, Tikehau Capital and Bpifrance will acquire stakes totaling nearly 24% in GreenYellow. The investment will aid the Casino Group subsidiary in accelerating its development in France and globally, through a number of planned energy transition strategies.

The deal is expected to close in December 2018, subject to certain conditions.

Founded in 2007, GreenYellow helps customers to reduce their energy costs, has developed more than 150 decentralized photovoltaic projects, and operates more than 1,500 energy efficiency contracts with Casino Group and other third-party customers. Its primary markets are in France, Brazil and Colombia, and GreenYellow is currently expanding in Asia and Africa.