Eight Advisory performs CVE’s financial vendor due diligence

23 September 2020

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Eight Advisory has carried out the financial vendor due diligence on group Cap Vert Energie, developer and operator of renewable energy assets in France, the Americas and Africa, in the context of ICG Infra acquiring a stake in the group.

The CVE group is a French independent, multi-country, multi-energy producer of renewable energy. Created in 2009, CVE is present in Chile, the United States and is developing a presence in Africa. The group has 185 employees and achieved a turnover of €33M in 2019.

Two months after having subscribed to a €43M credit line, CVE benefits from a €100M equity and quasi-equity contribution, provided by Intermediate Capital Group. The latter, which invests through its dedicated branch ICG Infra, enters as a minority shareholder in order to support the deployment of CVE, whose production capacity target is 2.3 GW by 2025, i.e. eight times the current installed capacity.

Eight Advisory carried out the Financial Due Diligence vendor, the team was composed of Lionnel Gérard, Maxime Mouilleau and Julie Vuarchex.