H2air and iCON Infrastructure enter into strategic partnership to accelerate growth

H2air and funds advised by iCON Infrastructure are pleased to announce a strategic partnership to support H2air's development and accelerate its growth.

Founded in 2008, H2air is a leading independent developer of onshore wind and solar projects in France. Headquartered in Amiens (Somme), the company owns and operates 13 onshore wind farms with a total installed capacity of 263 MW. With more than 150 employees and nine branches, H2air is developing a portfolio of wind and solar projects of over 3 GW.
Established in 2011, iCON manages more than $8 billion in assets and invests in various infrastructure sectors, including energy and the environment, transport, utilities, telecommunications and social infrastructure.

The partnership between H2air and iCON reflects their commitment to the development of renewable energy in France and is in line with the country's energy transition objectives.

Roy Mahfouz, founder and Chairman of H2air, said: "As historical shareholders and the management team, we are proud to be working with iCON on this new chapter in H2air's history. After 17 years of continuous growth and success in the development and construction of major renewable energy projects, our ambition is now to become a major independent renewable energy producer in France. Our strategic partnership with iCON is the highest recognition of the quality of the work accomplished by our team."

"We are proud to strengthen our presence in the French renewable energy market through this partnership with H2air. It is a privilege for us to work with such a talented and dynamic team and to support H2air's growth", said Nicolas Couderc, Managing Director at iCON.

The transaction is expected to close in the summer of 2025, subject to the satisfaction of certain conditions precedent and the approval of the relevant authorities.