Casino's energy subsidiary, GreenYellow, could go public in the next few days. Indeed, this is an eventuality on which the company and its shareholders are counting. This operation is also part of the group's objective to find a source of financing for its investment plan, which has already been drawn up and is ready to be implemented.
GreenYellow has developed an investment plan valued at nearly €1.9 billion. 1.9 billion and will run from 2021 to 2025. This program should result in the installation of approximately 2.3 GWp of photovoltaic plant capacity by the end of 2025. Also, this includes energy efficiency projects for a volume of more than 1,900 GWh annually.
In order to find the necessary financing for the implementation of this plan, the company is studying various options. In particular, it is considering the possibility of an IPO on Euronext Paris. It should be noted that this decision was taken in agreement with the company's shareholders.
Moreover, the operation should particularly include a capital increase. As a reminder, the Casino group holds the majority of the capital of the GreenYellow subsidiary. It intends to keep its position as majority shareholder.
In a favourable market context for the energy transition, GreenYellow has great prospects for the future. The group is counting on a strong growth of its activity in the coming years. This would allow it to continue accelerating its development.
A possible IPO would therefore be a factor that could contribute to financing the company's objectives. The company also believes that this operation is a natural step to accelerate the expansion of its decentralized platform model.
The latter is used to support the energy transition of the group's customers both in France and abroad.
GreenYellow has achieved a very good performance in the last year. The group signed a record year in terms of project delivery. At the same time, it expanded its business to other regions such as Vietnam and South Africa. In 2020, the company also developed new photovoltaic power plants with a capacity of 117 MWp.
For the whole of 2020, the Casino Group's energy subsidiary saw its Ebitda reach €62 million. By geographical breakdown, France and South America account for 52% and 32% of this amount respectively. Africa and the Indian Ocean each generated 14%. Finally, the company generated 2% of this Ebitda in Southeast Asia.
In addition, GreenYellow has strengthened its solutions platform. This includes the development of a "Utilities as a Service" offering and the advent of electric mobility. Also, the group has set up an innovative photovoltaic offer based on floating solar.
In addition, the company believes it is currently pursuing its transition to an "infrastructure" operator model. This is intended to hold and operate its assets over the long term.