Brussels, June 24, 2013 – Akuo Energy, the leading French independent power producer of renewable energy, announced today the signing of an exclusive partnership agreement with the R20, for the construction of solar and hydroelectric plants in Mali.  The signing of this agreement took place as part of the opening ceremony of the Covenent of Mayors and during Europe’s Sustainable Energy Week.  The agreement was signed by Governor Arnold Schwarzenegger, founder of the R20, and Eric Scotto, President of Akuo Energy, in the presence of José Manuel Barroso, president of the European Commission.

With this agreement, Akuo Energy becomes the exclusive partner of the R20 for the implementation and operation of projects the R20 has already identified, and for which the Malian government has already committed to provide land.  Together, the projects have a total power capacity of more than 160 MW.

Akuo Energy is committed to developing the solar projects, Kita and Kangaba (total power 41 MW, west Mali), which are priorities for the Malian government, particularly after finding positive results in its pre-feasibility studies, which were conducted over several months.  Akuo will ensure the financing and construction of these two projects in the coming months.

Christophe Nuttall, Executive Director of the R20 stated, “We are very happy to officially count Akuo Energy among our partners from this point forward.  Akuo Energy is a major actor in sustainable development, known for its strong values and its proven capacity for innovation.  We are convinced that the teams at Akuo Energy will use their expertise to propose the people of Mali solar and  hydroelectric power plants that will be perfectly adapted to their needs, taking into account both favorable local conditions, as well as local constraints.”

Eric Scotto, President of Akuo Energy, concluded, “Africa appears to us to be particularly promising for renewable energy development.  Combining a strong potential for renewable energy in terms of resources and biodiversity, as well as and well-known constraints, such as population density and a weak electric grid infrastructure, this continent presents us with all of the types of challenges that we love and know how to take on. We are even prouder to be chosen by the R20 since this first African challenge will take place in Mali: as a French SME, we will build energy infrastructures that will lead the Mali to greater energy independence. We want to thank the R20 —whose initiative we salute— for their confidence in Akuo and for signing onto this partnership, which we consider to be very promising.”