Bpifrance invests in French renewable power producer Qair

February 1 (Renewables Now) - French investment bank Bpifrance has become a shareholder in compatriot Qair after taking part in a funding round supporting the renewable power producer’s growth in the domestic and foreign markets.

The fundraising was held by DIF Capital Partners, which in October 2022 joined the shareholder list of Qair, the latter said on Tuesday. The value of Bpifrance’s investment, carried out along with the renewables firm’s managers and existing investor Rgreen Invest, was not disclosed.

Paris-based Qair has about 1 GW of operating assets, mostly onshore wind and solar projects, and a 30-GW development pipeline. It aims to add 4 GW of renewable projects over the next five years. Employing 550 people, Qair operates in 20 countries across Europe, Latin America and Africa.

In its home country, Qair is working on over 1 GW of onshore and offshore floating wind, solar, tidal power and green hydrogen projects.