Power Capital Renewable Energy, one of the UK’s biggest developers of solar energy and battery storage, has been put up for sale by its private equity backers with an expected post-money valuation of €400 million ($424 million), the Times reported, citing sources it didn’t identify.
PCRE, which is backed by Omnes Capital, has retained Akereos Capital to find a buyer. The sale may involve either a majority stake or 100% of the solar energy firm, according to the newspaper.
The company has a 3.5 gigawatt portfolio of solar and battery storage assets based in Ireland and the US.
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