Groupe WATT & Co

What Groupe WATT & Co does

Groupe WATT & Co is a French independent renewable energy developer and IPP (Independent Power Producer) founded in 2009, headquartered in Paris with its main operational base in Mazamet, Occitanie. The company develops, finances, constructs, and operates photovoltaic, hydroelectric, and battery storage assets across France, retaining ownership of operating assets to generate recurring electricity sales revenue. As of 2026, the portfolio comprises 140 MWc in construction and exploitation, 100 MWc in financing/RTB stages, 1.3–1.5 GWc of projects in development, and 800 MWh of storage capacity in pipeline. The energy mix is 83% agrivoltaic and ground-mounted solar, 15% rooftop solar, and 2% hydroelectric.

WATT&Co serves four primary customer segments: agricultural landowners (farmers, breeders, cooperatives — its primary segment), industrial and commercial enterprises, public sector/municipalities, and investors. Its product portfolio spans agrivoltaic systems (livestock shading structures, photovoltaic greenhouses, equestrian arenas, aviaries, eco-basins), solar-roofed agricultural and industrial buildings, ground-mounted solar plants, rooftop installations, and battery storage solutions (BT 300 m² to HT 5,000 m²). The company differentiates through a fully financed, turnkey delivery model using bail à construction (construction lease), eliminating upfront capital requirements for clients while WATT&Co retains long-term ownership and O&M responsibility over 20+ years.

The business operates through five subsidiaries (WATT & Co Ingénierie, WATT & Co Services, WATT & Co Exploitation, LER Developpement, Local WATT), six regional agencies across France, and a citizen participation financing platform that has raised over €12 million from 3,544 retail investors across 9 completed projects. Distribution is exclusively direct enterprise field sales with long-cycle, consultative selling, supplemented by event presence at Sommet de l'Élevage (4 consecutive years). In June 2026, WATT&Co secured a €60 million junior credit facility from Arkéa Asset Management and CIC Private Debt to fund its next 100 MWc of solar projects and 50 MWh of storage, with ANDERA Smart Infra as a 5-year strategic investor. The company underwent a full governance restructuring in 2026, installing Alban Casimir as CEO, Julien Dugenétay as CFO, and Pierre Deneux as Deputy CEO of WATT&Co Services.

Name

Groupe WATT & Co

Legal name

WATT & Co Ingénierie

Website

https://groupe-wattetco.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Groupe WATT & Co is a French independent renewable energy developer and IPP founded in 2009, operating photovoltaic, hydroelectric, and battery storage assets across France. It delivers turnkey, fully financed solar infrastructure to agricultural, industrial, public, and investor clients via six regional agencies.

Ownership category

akta.pro rank

Product category

Renewable Energy / Solar Power Generation

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

Keywords

• Renewable energy development
• Photovoltaic solar installation
• Agrivoltaic systems
• Battery energy storage
• Hydroelectric power generation

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Renewable Energy Asset Ownership and Operation (IPP Model): WATT&Co operates as an Independent Power Producer (IPP), retaining ownership of its renewable energy assets. The company develops, finances, constructs, and operates photovoltaic, hydroelectric, and battery storage plants, generating revenue through the sale of electricity to the grid. This is the core revenue driver, supported by long-term asset ownership.
2. Engineering and Development Services: WATT&Co Ingénierie subsidiary provides project development, design, and engineering services for third-party or co-developed renewable energy projects, covering the full project lifecycle from feasibility studies through permitting and grid connection.
3. Project Financing Facilitation: Arrangement of project financing (bail à construction, junior debt facilities) for renewable energy projects, often with WATT&Co retaining equity ownership in assets post-construction.
4. Citizen/Participatory Financing: WATT&Co raises capital through citizen investment platforms for specific project portfolios, collecting more than €12 million from over 3,544 co-citizen investors across 9 completed participatory projects. Returns are distributed upon project completion.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Groupe WATT & Co is an independent renewable energy developer and producer (IPP) that develops, finances, constructs, and operates photovoltaic, hydroelectric, and battery storage projects across France. The company delivers fully financed, turnkey solar infrastructure solutions (agricultural buildings, agrivoltaic structures, industrial and municipal photovoltaic installations, battery storage) to farmers, industrial companies, and municipalities while retaining long-term ownership of the assets to sell electricity to the grid.

Product overview

Groupe WATT & Co is a developer and independent producer of renewable energies (photovoltaic, hydroelectric, storage) founded in 2009. The company operates an integrated model covering development, financing, construction, and operation of renewable energy infrastructure across France. Their product portfolio includes solar agricultural buildings (hangars, equestrian arenas, eco-basins), agrivoltaic solutions (livestock shading, greenhouses, aviaries), rooftop and ground-mounted solar installations for industrial and municipal clients, battery storage systems (low and high voltage), and hydroelectric power. The company also offers citizen participation financing for renewable projects. With over 100 employees and 6 regional agencies, the group manages the complete value chain from project development through operation and maintenance.

Differentiator

Problem solved

Functional benefit

Products and services

• Hangars Agricoles Photovoltaïques (Photovoltaic Agricultural Buildings) Solar-powered agricultural storage buildings (476 m² to 2387 m²) with asymmetrical or dual-pitch roof designs that provide farmers with storage space while generating renewable electricity on their land.
• Ombrières d'Élevage (Agrivoltaic Livestock Shading Structures) Agrivoltaic shading structures for livestock farming (bovine, ovine, equine, porcine, poultry) that provide animal welfare benefits, supplementary income, and solar energy production on agricultural lands.
• Serre Photovoltaïque (Photovoltaic Greenhouses) Solar greenhouses ranging from 3,000 m² to 5,000 m² that protect crops from weather hazards while generating electricity, enabling year-round cultivation and enhanced agricultural yields.
• Volière Photovoltaïque (Photovoltaic Aviary Structures) Photovoltaic aviary structures for poultry farming (game birds, ducks, broilers, laying hens) providing predator protection and energy production with 100% financing.
• Manège Équestre Photovoltaïque (Photovoltaic Equestrian Arena) Solar-powered equestrian arena (2,331 m²) with south-facing orientation, featuring a 31m pole-free hall and 6m lean-to for boxes, combining horse riding facilities with renewable energy production.
• Éco-Bassin Agricole (Agricultural Photovoltaic Water Basin) Photovoltaic water basin systems for agricultural water management, available in 420 m² monopitch and 1,456 m² dual-pitch configurations, enabling water storage and renewable energy generation.
• Location de Toiture Photovoltaïque (Rooftop Solar Leasing) Rooftop solar leasing service allowing agricultural landowners to generate income from unused roof space without upfront investment.
• Bâtiments Photovoltaïques Industriels (Industrial Solar Buildings) Solar-powered industrial buildings (476 m² to 2,387 m²) for storage, logistics, and production activities, fully financed with a single-point-of-contact turnkey delivery.
• Ombrières de Parking Industrielles (Industrial Solar Parking Shades) Solar parking shades for industrial use providing vehicle protection and renewable energy generation, with options for EV charging station pre-equipment.
• Centrale au Sol Industrielle (Industrial Ground-Mounted Solar Plant) Ground-mounted solar power plants for industrial sites, utilizing unused or degraded land for renewable energy production.
• Réfection de Toiture Industrielle (Industrial Solar Rooftop Renovation) Rooftop renovation service with integrated photovoltaic solutions, including potential asbestos removal, with full or partial financing through emphyteutic lease.
• Bâtiments Photovoltaïques pour Collectivités (Municipal Solar Buildings) Solar-powered public buildings for local governments (476 m² to 2,387 m²), including coverage for tennis courts (1,332 m²), with construction and maintenance included.
• Ombrières de Parking pour Collectivités (Municipal Solar Parking Shades) Solar parking shades for municipalities, including EV charging capabilities, with example project in Figeac (1.95 MWc capacity, +2.4 GWh production).
• Centrale au Sol pour Collectivités (Municipal Ground-Mounted Solar Plant) Ground-mounted solar plants for local governments, utilizing non-agricultural land (polluted sites, degraded land, industrial wastelands) for energy production.
• Réfection de Toiture pour Collectivités (Municipal Solar Rooftop Renovation) Solar rooftop renovation services for public buildings, enabling energy transition and building value enhancement.
• Stockage Basse Tension (BT) (Low-Voltage Battery Storage) Low-voltage battery storage units (300 m² to 5,000 m²) installed on unused agricultural land, enabling energy storage and grid stability without noise or pollution.
• Stockage Haute Tension (HT) (High-Voltage Battery Storage) High-voltage battery storage sites (2,000 m² to 5,000 m²) for larger energy storage needs, fully fenced and secure without radio interference.
• Hydroélectricité (Hydroelectric Power Generation) Hydroelectric power generation expertise including development, construction, and operation of hydroelectric plants across France.
• Autoconsommation Collective (Collective Self-Consumption) Collective self-consumption solutions enabling communities to share locally produced renewable energy.
• Financements Participatifs Citoyen (Citizen Participatory Financing) Citizen participation financing service for renewable energy projects, enabling co-citizens to invest directly in ENR projects. Over 3,544 co-investors, €12+ million collected, and 9 completed projects to date.

Quantifiable outcome

• 16,000 tonnes of CO2 avoided per year in Nouvelle-Aquitaine region alone (270+ projects)
• +5 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor.

• BCLP (Bryan Cave Leighton Paisner)minorImplementation/ SI/ Consulting Partner · 5 June 2026BCLP served as legal counsel to the lending syndicate, drafting credit documentation for the €60M junior credit facility.
• BentamminorImplementation/ SI/ Consulting Partner · 5 June 2026Bentam provided legal counsel to WATT&Co as sponsor in the €60M financing transaction.
• 3E (ex-3E International)minorImplementation/ SI/ Consulting Partner · 5 June 20263E acted as technical advisor to the lending syndicate in the €60M financing transaction, validating the technical maturity of WATT&Co's project portfolio.
• IRIS InteractiveminorImplementation/ SI/ Consulting PartnerDigital agency responsible for website design and development. Located at 4 rue du Pensionnat Notre Dame de France, 43000 Le Puy-en-Velay. Also provides ongoing website evolution services under a continuous evolution model.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Neoen: Major French-listed independent renewable energy IPP with significant solar, wind and storage operations globally including France. Comparable IPP business model, though at materially larger scale and with broader geographic and technology diversification.
• Voltalia: French renewable energy IPP listed on Euronext Paris, operating solar, wind, hydro and storage assets. Comparable as a multi-technology French IPP with project development, construction and operating activities; substantially larger in scale but serving similar end-customers and renewable markets.
• EDF Renewables: Subsidiary of EDF dedicated to renewable energy development and operation in France and abroad, including ground-mounted solar, agrivoltaic projects and battery storage. Overlaps with WATT&Co in French territory, IPP model and customer segments but with substantially larger scale and balance sheet.

Direct peers

• TSE: French agrivoltaic specialist and solar IPP developing ombrières, agri-PV projects and ground-mounted solar across France. Directly comparable to WATT&Co in agrivoltaic product line, IPP business model, and target French farmer/landowner customer base. Alban Casimir, WATT&Co's new CEO, previously held leadership roles at TSE.
• REDEN Solar: European solar IPP (HQ France) developing, building and operating ground-mounted and rooftop solar plants. Closely comparable IPP ownership model and target segments (agriculture, industry, public infrastructure), with battery storage integration.
• Amarenco: French solar developer and IPP active in ground-mounted PV and agrivoltaic projects across France. Direct peer in target customer segments (farmers, municipalities), agrivoltaic product offering, and IPP ownership model.
• Urbasolar: French solar developer and IPP operating ground-mounted, rooftop and agrivoltaic projects across France. Direct peer with overlapping product portfolio (hangars agricoles, ombrières, centrales au sol), IPP ownership model, and target segments (agriculture, industry, public sector).
• Valorem: Independent French renewable energy developer and IPP active in wind, solar, hydro and storage across France. Closely comparable multi-technology IPP model, regional agency-based development approach, and target segments including agricultural and municipal clients.
• Photosol (Antin Infrastructure / Eurofiber): Major French solar developer and IPP focused on ground-mounted and rooftop PV, including agrivoltaic projects. Closely comparable in customer base (farmers, industrials, municipalities), IPP model, and renewable energy development pipeline in France.

Emerging players

• GreenYellow: French-origin energy services company developing decentralized solar, storage and energy efficiency solutions for retail, industrial and agricultural clients in France and internationally. Comparable decentralized solar and storage focus with B2B customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Groupe WATT & Co