Mergers: Commission clears joint acquisition of photovoltaic project in Spain by Mirova and ENGIE

The European Commission has cleared, pursuant to the European Merger Regulation, the joint acquisition of PSFV Palma del Rio SL, based in Spain, by Mirova and ENGIE Group, both of which are French companies. PSFV Palma del Rio owns a photovoltaic power plant under construction in Palma del Rio, Spain, with a total capacity of around 50 megawatts. Mirova manages investment funds containing various types of assets, such as renewable energy and basic infrastructure, sustainable equities and green bonds. Mirova is ultimately controlled by the BPCE Group, a French banking group active in the banking and insurance sector. ENGIE is an industrial and service group active in the gas, oil and gas electricity and services related to energy. The Commission concluded that the proposed concentration would not raise competition concerns because of the marginal activities of the Joint Undertaking. The transaction was reviewed under the Simplified Merger Control Procedure. Further information is available on the websitecompetition in the public register of cases under the case number M.9438 .

 

 

 

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