Vinci signs a strategic partnership with NatPower SA – 04/15/2024 at 3:06 p.m.


(AOF) – Vinci announces the finalization of an investment of around fifty million euros in NatPower SA (renewable energy development platform created in 2019, active mainly in Italy, Great Britain and the United States) . The investment includes the acquisition of 10% of the capital of this company from its founder Fabrizio Zago and the Tyrus Capital fund, as well as the subscription of convertible bonds allowing the group to ultimately increase its participation, then to exercise possibly an option allowing the takeover of NatPower SA.

Under the terms of the agreement, Vinci will benefit from a priority right to acquire, if it so wishes, projects in the “ready to build” phase initiated by NatPower SA.

Furthermore, this equity investment is accompanied by an agreement for the joint development of renewable energy projects (mainly solar and onshore wind) in the United States, drawing in particular on the existing portfolio of NatPower SA in this area. of approximately 1.2 GW to which are added approximately 2 GWs at the preliminary stage.

In this context, a joint company, controlled by Vinci through its subsidiary Cobra IS, will be created in the United States.

Finally, with the expertise of NatPower SA, Vinci will be in a privileged position to develop energy storage projects, particularly in Great Britain.

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Double penalty for the sector

The French Building Federation (FFB) recently warned of the collapse of the new housing market. Over the first eight months of 2022, sales in the new home market in the diffuse sector collapsed by 26.8% year-on-year. As for sales of new homes in the grouped sector, sales to individuals fell by 17.3% year-on-year in the first half, while sales to institutions fell by 23%. The trend is the same for collective housing sales, down 9.8%.

These bad trends are accompanied by a decline in public investments, while PGE reimbursements begin. Due to a lack of visibility, local authorities prefer to put certain projects on hold. They also have to face a drop in their resources and a significant increase in energy and works costs. However, the largest investments are generally made during the third and fourth years of mandate of communities, that is to say in 2023 and 2024. This therefore represents a significant shortfall for the sector.



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