Orbeo, the joint-venture equally owned by Rhodia and Société Générale, has signed an agreement to buy clean energy project developers OneCarbon International from Netherlands-based sustainable energy company Econcern Group.
OneCarbon is an international company that generates high-quality carbon credits by originating, developing, co-developing or financing projects that reduce greenhouse gas emissions.
This acquisition will reinforce Orbeo’s carbon offset sourcing activity and will also allow it to extend its service offer to emission reduction project developers and owners.
Orbeo’s president Philippe Rosier explains: “By teaming up with OneCarbon, we want to build up strong positions in the carbon offset sourcing business. OneCarbon has built a significant expertise in the development of high quality projects generating greenhouse gas emission offsets. Through a set of major technical competencies, we aim at implementing projects which contribute to address climate change and to accelerate global sustainable development.”
Jérôme Malka, managing director at Orbeo, adds: “Orbeo and OneCarbon are complementary businesses. Our shared vision and values, combined with the quality of the teams, are key in this acquisition. We rely on these solid bases to achieve our strategy of sustainable growth.”
The effective completion of the transaction is subject to certain closing conditions, including approval by the relevant antitrust authorities; it is expected to be finalised by the fourth quarter of 2009.
Econcern was placed under bankruptcy protection in May when it requested a "suspension of payments" from the Dutch financial authorities. It has since been declared officially bankrupt.
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