VINCI to acquire ACS’ energy business, investigating offshore wind plays

ACS Group’s industrial division is a global player in energy contracting and developing renewables projects. It has around 45,000 employees and revenues of more than €6Bn (US$7Bn), mainly in Spain and Latin America. The transaction price is based on an enterprise value of €4.2Bn.

Vinci and ACS will negotiate a 51-49% partnership agreement for the acquisition of mature renewables assets, to be developed, built and connected to the grid.

In a statement, Vinci said the companies have identified new opportunities for the short and medium term of around 15 GW of renewables capacity, mainly in solar PV and onshore wind, but including around 8 GW of upcoming offshore wind projects.

“The transaction is consistent with Vinci’s strategy to build a global player in energy contracting, to develop a platform for renewables projects, to broaden the portfolio of concessions and extend its average maturity,” said the company.

Vinci chairman and chief executive Xavier Huillard said, “This acquisition is a unique opportunity for Vinci to create a global player in energy contracting and to develop renewables projects.

“The group is delighted to welcome an outstanding management team and a skilled workforce of around 45,000 people. Synergies derived from complementary geographies, technical expertise and integrated business model will be a significant asset to win new projects and to seize greenfield renewables energy opportunities.”