Voltalia SA confirmed May 23 that it is in exclusive talks with shareholders of Helexia SA to acquire the solar developer.

Helexia manages over 222 photovoltaic projects in Belgium, France, Italy and Portugal with a combined installed capacity of 51.4 MW. In 2018, its revenues reached €14 million with an EBITDA margin of 49%.

Helexia is owned by the Mulliez family via Creadev, which is also Voltalia's majority shareholder. The acquisition price, which may be paid in Voltalia shares, will be evaluated by an independent expert. Voltalia expects to finalize the transaction in the third quarter.

"This acquisition project is in line with our growth strategy in solar energy whose competitiveness is on the rise. With Helexia, we ambition to build a green energy one stop shop for corporates: we would enable clients to benefit from the drop in renewables' costs, by offering them cheaper electricity and energy efficiency services," Voltalia CEO Sebastien Clerc said.

In support of its growth strategy, Voltalia recently signed a power supply agreement with French retailer Boulanger. The deal will support the company's planned 5-MW solar plant in France.