• Family-owned developer for sale
• Augusta leading sellside efforts
• IM to be distributed later this month

French renewables developer ESCOFI is being marketed for a full sale, with the first round of the process due to kick off imminently, according to sources.

The founders of the business, which develops and operates wind and solar energy, have hired Augusta & Co to lead a sale process for 100% of the company, sources said.

Augusta distributed teasers for the sale in December and is due to share the information memoranda – which will indicate a deadline for first round bids – later this month, sources familiar with the deal added.

ESCOFI has an installed wind and solar capacity of 90 MW and more than 400 MW under development, according to the company’s LinkedIn profile. Overall, the company has 19 wind sites, 10 solar and two hydroelectric projects, its website shows.

Founded in 1988, ESCOFI is expected to gain interest from infrastructure funds that have experience with energy transition businesses, sources said.

The company is led by Jean-Edouard Delaby, the grandson of the founder of the company, who succeeded his uncle Jean-Philippe Ethuin as president in 2015. It is unclear if he will remain with the company following a sale, sources said.

ESCOFI first moved into the renewable energy subsector in 1995 when the founders acquired the Senhora de Monforte hydroelectric plant in Portugal which had a total capacity of 10 MW at the time, according to its website.

ESCOFI and Augusta did not respond to requests for comment.