Bureau Veritas Acquires ArcVera Renewables to Accelerate Growth and Create a New Stronghold in the Renewables Sector in North America

Rhea-AI Summary

Bureau Veritas acquires ArcVera Renewables, a specialized provider in finance-grade consulting and technical services for wind, solar, and battery storage projects. This acquisition aligns with Bureau Veritas's LEAP | 28 strategy to create a new stronghold in the fast-growing renewables sector, primarily in North America. ArcVera Renewables, headquartered in Golden, Colorado, delivered revenues of €6.5 million in 2023 and has supported 9GW of solar projects in North and South America, evaluating projects representing 93,000 MW of wind capacity in the United States.

The acquisition aims to expand Bureau Veritas's capabilities in supporting landowners, developers, owners, and investors in delivering renewable energy projects. It strengthens Bureau Veritas's position as a leader in the renewables and power generation sector, enhancing its portfolio of energy transition services.

Positive

• Acquisition aligns with Bureau Veritas's LEAP | 28 strategy for growth in the renewables sector
• Expands Bureau Veritas's capabilities in North American renewable energy market
• ArcVera Renewables generated €6.5 million in revenue in 2023
• Enhances Bureau Veritas's portfolio of energy transition services
• ArcVera Renewables has supported 9GW of solar projects and evaluated 93,000 MW of wind capacity

Negative

• None.

PARIS, Sept. 4, 2024 /PRNewswire/ -- Bureau Veritas, a global leader in Testing, Inspection, and Certification services, today announced the acquisition of ArcVera Renewables, a specialized provider in finance-grade consulting and technical services for wind, solar, and battery storage projects worldwide. This acquisition is aligned with Bureau Veritas LEAP | 28 strategy to create a new stronghold in the fast-growing sector of renewables.

Bureau Veritas contributes to the energy transition by providing the power sector customers end-to-end solutions to meet the immediate and future challenges of developing and operating renewable assets. This acquisition will expand Bureau Veritas's capabilities, primarily in North America, to support landowners, developers and owners, and investors in delivering their wind and solar farm projects.

ArcVera Renewables provides customers with advanced technical site and resources assessments, and consultancy during the development and operations stages of utility-scale renewables projects. The company's engineers, technical and subject matter experts support clients with risk reduction and ensure optimal asset performance. Since its inception, ArcVera Renewables has supported 9GW of solar projects in North and South America and has evaluated projects now representing 93,000 MW of wind capacity in the United States. ArcVera Renewables delivered revenues of €6.5 million in 2023 and is headquartered in Golden, Colorado.

"The acquisition of ArcVera Renewables supports our LEAP | 28 strategy, aimed at expanding our services and strengthening our position as a leader in the renewables and power generation sector," said Hinda Gharbi, Chief Executive Officer of Bureau Veritas. "ArcVera Renewables has built a reputation for excellence in due diligence and operational verification on renewable projects. Their expertise will be a valuable addition to Bureau Veritas's portfolio of capabilities for the energy transition services. I warmly welcome all new colleagues from ArcVera Renewables to Bureau Veritas."

"We saw how the broad and deep technical prowess of Bureau Veritas would be a powerful catalyst for ArcVera Renewables," added Greg Poulos, CEO of ArcVera Renewables. "Since inception, our goal has been to accelerate the clean transformation of the world's energy sector by delivering trustworthy, valuable, detailed, and independent technical analysis for the success of our clients. Joining Bureau Veritas is a leap forward in achieving this goal and is likewise transformational for the ArcVera team and its growing global renewable energy client-base."

About Bureau Veritas

Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress. With a vision to be the preferred partner for its customers' excellence and sustainability, the company innovates to help them navigate change.

Created in 1828, Bureau Veritas' 83,000 employees deliver services in 140 countries. The company's technical experts support customers to address challenges in quality, health and safety, environmental protection, and sustainability.

Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40 ESG, CAC Next 20, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI. For more information, visit www.bureauveritas.com, and follow us on LinkedIn.

About ArcVera Renewables

ArcVera Renewables provides finance-grade consulting and technical services for wind, solar and storage projects worldwide. For the last four decades, ArcVera Renewables has been dedicated to delivering next-generation innovation in renewable energy to meet the needs of landowners, project developers, investors, project owners and operators globally. ArcVera Renewables provides technically sound and accuracy-driven technical services, including prospecting and resource assessment, independent technical and financial engineering, as well as plant optimization, operations and repowering. Subsidiary offices are located in India, Brazil, and South Africa, serving all continents. For more information, visit www.arcvera.com, and follow us on LinkedIn.

 

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SOURCE Bureau Veritas

FAQ

What company did Bureau Veritas acquire and how does it impact their renewable energy services?

Bureau Veritas acquired ArcVera Renewables, a specialized provider in finance-grade consulting and technical services for wind, solar, and battery storage projects. This acquisition expands Bureau Veritas's capabilities in the renewable energy sector, particularly in North America, enhancing their ability to support clients in developing and operating renewable assets.

How much revenue did ArcVera Renewables generate in 2023?

ArcVera Renewables delivered revenues of €6.5 million in 2023.

What is the strategic importance of the ArcVera Renewables acquisition for Bureau Veritas (BVVBY)?

The acquisition of ArcVera Renewables aligns with Bureau Veritas's LEAP | 28 strategy, aiming to create a new stronghold in the fast-growing renewables sector. It strengthens Bureau Veritas's position as a leader in the renewables and power generation sector, expanding their services and capabilities in supporting renewable energy projects.

What is the scale of renewable energy projects ArcVera Renewables has supported?

ArcVera Renewables has supported 9GW of solar projects in North and South America and has evaluated projects representing 93,000 MW of wind capacity in the United States.