SERHY

What SERHY does

Groupe SERHY (Serhy S.A.S.) is a French vertically integrated small-hydropower operator founded in 1986, headquartered in Saint-Amans-Soult (Tarn), with 47 employees distributed across three sites (Saint-Amans-Soult, Toulouse, Sisteron). The group develops, designs, constructs, operates and maintains run-of-river and small hydropower plants ranging from 100 kW to 4,500 kW, using Kaplan, Francis and Pelton turbines across the Alps, Pyrenees, Massif Central and other French hydrographic basins. Its portfolio comprises 68 plants in operation (25 held through wholly-owned subsidiaries producing approximately 280 GWh/year in own name, and 40+ operated under third-party exploitation and maintenance contracts), supported by 40+ plants historically designed and built in-house and a cadence of one to two new production units delivered annually.

The business operates three complementary revenue streams. First, regulated electricity sales under EDF H16-type feed-in tariffs and market-based sales of the energy produced by its own 25 plant subsidiaries (cumulative installed capacity on the order of 40 MW based on the 280 GWh own-name output). Second, engineering and project-development services, with disclosed engineering fees ranging from €60k to €220k per study on projects valued between €400k and €7.9M (e.g., La Valette €7.9M, Thyez-Scionzier €4.5M, L'Escalère in build-out). Third, recurring exploitation/maintenance contracts for 40+ third-party plants — including assets of developers SHEMA and SIRIUS — that generate annuity-style fees typically in the low tens of thousands of euros per plant per year. The customer base is fragmented across private landowners and independent producers, local and territorial authorities, and hydro-asset developers.

SERHY's strategic positioning was re-anchored in 2025 when ES - Énergies de Strasbourg (an EDF subsidiary) acquired a 35% stake, with the LOUP family retaining majority control. Recent moves also include aFRR (secondary reserve) certification of the Villar d'Arène run-of-river plant with the Energy Pool aggregator (Oct 2025), deployment of EES-Dynae vibration monitoring on 15 plants, and an open engineering-recruitment position (Responsable Études et Développement, Sisteron) signaling capacity build-out for new builds (La Valette, Thyez-Scionzier, L'Escalère, Maureille renovation through 2027).

Name

SERHY

Legal name

Serhy S.A.S.

Website

https://serhy.fr

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Groupe SERHY is a French vertically integrated small-hydropower operator serving private landowners and territorial authorities with project development, engineering, construction and O&M services. Founded in 1986, it manages 68 plants across France producing 280 GWh annually.

Ownership category

akta.pro rank

Product category

Renewable Energy / Small-Scale Hydroelectric Power

NAICS

Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Small-scale hydroelectric power
• Hydropower engineering services
• Renewable electricity production
• Hydroelectric plant operations
• Run-of-river energy

Headquarters

HQ city

Saint-amans-soult

HQ country

France

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Green electricity production and sale: SERHY operates its own hydroelectric plants and produces electricity for sale, either under regulated purchase contracts (EDF H16 OA, H16CR Bis) or on the open market. Production capacity spans 68 plants with combined annual output exceeding 280 GWh. Electricity sale is the primary revenue stream, supplemented by capacity payments and secondary reserve participation (aFRR).
2. Engineering and consulting services: SERHY Ingénierie provides hydroelectric project development, feasibility studies, preliminary and detailed design, regulatory dossier preparation, construction supervision (maître d'œuvre), and technical studies for third-party clients including private producers, local authorities, and institutional partners. Revenue earned through project fees and engineering service contracts.
3. Exploitation and maintenance contracts: SERHY manages over 65 hydroelectric installations for third-party owners across the Alps, Pyrenees, and Mayenne. Contracts cover daily surveillance, preventive and corrective maintenance, performance monitoring, and regulatory compliance. Revenue is recurring through long-term management agreements.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

SERHY develops, designs, constructs, operates, and maintains small-scale hydroelectric power plants (100 kW to 4,500 kW installed capacity) across France, and produces green electricity from its own portfolio of 25 wholly-owned plants exceeding 280 GWh annually. Through its subsidiary SERHY Ingénierie, it provides turnkey engineering services — feasibility studies, regulatory dossiers, hydraulic design, civil engineering, turbine installation (Kaplan, Francis, Pelton), grid connection, and exploitation/maintenance — to private landowners, independent energy producers, and local authorities. The company also offers aFRR grid-balancing services, remote vibratory monitoring, and PTI safety wearables for the small-hydro segment.

Product overview

SERHY is a fully integrated hydroelectric operator offering a complete, vertically integrated suite of services across the entire project lifecycle: project development (prospecting, water rights, feasibility), engineering studies (hydrological analysis, turbine sizing, environmental compliance), design and construction of small hydroelectric plants (with Kaplan, Francis, and Pelton turbines in the 100 kW–4.5 MW range), and full operational management including remote monitoring and preventive/corrective maintenance (~68–70 plants operated). The company also operates 25 owned power plants producing over 280 GWh annually and serves private landowners, local authorities, and institutional clients as both engineer and project owner. Key ongoing construction projects include the Thyez-Scionzier (1,600 kW), La Valette (2,000 kW), and l'Escalère (999 kW) plants. Advanced services include aFRR secondary reserve balancing (Villar d'Arène plant, certified by RTE). Recent technology integrations include MyAngel/Samsung Galaxy Watch PTI wearables for isolated workers, EES-Dynae remote vibratory monitoring for predictive maintenance, and an electromagnetic current meter for field hydraulic studies.

Differentiator

Problem solved

Functional benefit

Products and services

• Développement de projet hydroélectrique (Hydroelectric project development)

Quantifiable outcome

• 280+ GWh of green electricity produced annually from 68 plants
• +4 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Five partnerships are on record, tiered supporting and core.

• MyAngel (Sauveteam)supportingTechnology or Integration · 1 July 2026MyAngel provides the PTI (Protection du Travailleur Isolé) application integrated with Samsung Galaxy Watch devices, which SERHY agents testing at hydroelectric plants. The solution offers 4G multi-operator and Wi-Fi connectivity, automatic fall or immobilisation alerts, and an ergonomic touchscreen — adapted for isolated dam and plant interventions.
• EES - DynaesupportingTechnology or Integration · 1 April 2026SERHY Ingénierie is testing a remote vibratory monitoring solution proposed by EES-Dynae for hydroelectric production units. The solution uses sensors to collect continuous vibratory data, an intelligent unit for frequency analysis, and automated anomaly alerts. Planned for deployment on approximately 15 sensitive hydroelectric plants in SERHY's operated portfolio.
• Energy PoolcoreStrategic or Co-development Partner · 1 October 2025Energy Pool serves as SERHY's aggregator partner for flexibility energy services. The partnership enabled SERHY to obtain aFRR (automatic Frequency Restoration Reserve) certification for the Villar d'Arène hydroelectric plant, allowing real-time power output adjustment of up to 3 MW for grid balancing. Energy Pool provides ongoing operational support for this innovative secondary reserve participation, which is uncommon for run-of-river hydroelectric plants.
• Bernard Bonnefond Energies RenouvelablessupportingStrategic or Co-development PartnerSERHY jointly developed the 1,800 kW Colomban hydroelectric plant with Bernard Bonnefond Energies Renouvelables and the Convert family, acting as Étude – Conception – Maîtrise d'œuvre partner for the €4,500,000 project on the torrent du Colomban in Savoie.
• SHEMA (Société Hydroélectrique de la Moyenne Arve)coreStrategic or Co-development PartnerSHEMA (Société Hydroélectrique de la Moyenne Arve) is a co-client with SERHY and SIRIUS on the 1,600 kW Thyez hydroelectric project on the Arve river. SERHY acts as clé en main (turnkey) contractor. The project represents a key industrial partnership for development of the Arve river hydroelectric potential.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Iberdrola: Global renewable energy major with hydroelectric generation across Spain, UK, and other markets. Broad incumbent comparable in renewable generation category, although with limited small-scale French hydro overlap.
• Enel Green Power: Global renewable energy operator with significant hydroelectric generation across Europe and the Americas. Broad incumbent in the same category as SERHY, though at very different scale and geographic footprint.
• Statkraft: Europe's largest generator of renewable energy, with significant hydroelectric operations across the continent. Broad incumbent comparable to SERHY in hydropower but operates at a far larger scale and across multiple geographies.
• CNR (Compagnie Nationale du Rhône): Major French hydroelectric operator with a broad portfolio of Rhône concessions. Operates at significantly larger scale than SERHY and is a broad incumbent in the same hydroelectric category, including smaller run-of-river plants.
• Alpiq: Swiss energy company with substantial hydroelectric generation and trading operations in France/Europe. Comparable broad incumbent in the renewable hydropower category, with grid-balancing and flexibility service capabilities.
• EDF Hydro: Largest French hydroelectric operator (now SERHY's indirect 35% shareholder via ES-Énergies de Strasbourg). Overlaps with SERHY in small hydro concession management and exploitation, but as part of a much larger utility portfolio.

Others

• Voith Hydro: Global manufacturer of hydroelectric turbines and generators (Kaplan, Francis, Pelton). Adjacent to SERHY via the equipment supply chain — SERHY specifies Voith-class turbines for its projects — but does not directly compete as a developer/operator.
• ANDRITZ Hydro: Global supplier of hydro turbine and generator equipment (including Kaplan and Pelton turbines used by SERHY). Equipment-side peer with strong overlap on technology category but no direct competition as a plant operator.

Direct peers

• SHEMA (Société Hydroélectrique de la Moyenne Arve): French small-hydro developer and operator active in the same Alpine geography as SERHY. Directly comparable in scale and customer type (private producers and local authorities), and even appears as a co-client with SERHY on the Thyez-Scionzier project.
• Hydrostadium (Engie subsidiary): Engie-owned specialist in small and medium French hydroelectric plant development, operation and maintenance. Direct competitor in the same integrated small-hydro service niche, backed by a major utility parent (analogous to SERHY's EDF-affiliated structure).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/groupeserhy
• Instagraminstagram.com/groupe_serhy

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

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 SERHY