Ecostal Group raises €100 million to drive its European growth

Ecostal Group, a major player in the energy transition, active in the B2B distribution of photovoltaic solutions and in the design, manufacture, and installation of solar structures for medium and large-scale projects, officially announces a €100 million fundraising round.

This operation ensures that Ecostal maintains a stable shareholder base, enabling it to retain control in Belgium of one of Europe’s leading clean energy companies, while continuing its international expansion.

Strong support from institutional and private investors

The first half of the fundraising was achieved through a capital increase subscribed by a consortium comprising Wallonie Entreprendre (WE), Noshaq, and TRANSENERGIE, as well as the company’s management, demonstrating their confidence in the Ecostal Group’s European ambitions.

The second half consists of loans from Belgian banks, WE International, and the management team.

This capital will finance the group’s organic growth and its recent acquisitions (Project Zero, Yomatec in France, and Solexis in Switzerland). This announcement also formalizes the acquisition of Solexis, a leading B2B distributor of equipment and solutions for photovoltaic installations in Switzerland.

A response to a rapidly changing market

With this financing, Ecostal Group aims to capitalize on market opportunities by expanding its international presence and diversifying its range of products and services. Investments will focus in particular on strengthening its logistics platform and developing a range of exclusive, non-competitive branded products. To achieve this, Ecostal will draw on the expertise of Siguesol, its engineering subsidiary specializing in ground-mounted and solar carport structures.

At the same time, and as part of its long-term vision, the group is working with external partners on solar panel recycling solutions, enabling the sustainable acceleration of the replacement of obsolete panels with more efficient ones.

About Ecostal Group

Founded in 2008 by Stéphane Dauvister, Ecostal Group has become a major player in the energy transition. It is structured around two main divisions. The first specializes in B2B distribution of photovoltaic solutions—solar panels, batteries, and chargers for electric vehicles—for residential projects and small- to medium-scale commercial and industrial projects. The second covers the design, manufacture, and installation of solar structures for medium and large-scale projects, including ground-mounted systems, solar canopies, and agrivoltaic installations.

Present in France through its subsidiaries Ecostal and Siguesol, as well as Yomatec, Ecostal Group stands out for its innovative solar solutions tailored to the markets. With strong local expertise and a reinforced national presence, the company is actively involved in the energy transition by offering tailor-made solutions that meet the energy challenges of today and tomorrow.

The group is present in Belgium, France, and Spain through nine legal entities: Ecostal Group SA, Ecostal SA, Ecostal SAS, Siguesol SRL, Siguesol SAS, Project Zero BV, SolaRecycle SA, Yomatec SA, and Yomatec Solar SL. It employs around 60 people dedicated to the energy transition.

About Wallonie Entreprendre

Wallonie Entreprendre (WE) is the economic and financial support tool for Walloon businesses. WE provides the resources needed to stimulate economic growth in sectors such as energy, agri-food, biotechnology, advanced technologies, and many others. Its investments and financing are always focused on the creation, growth, transfer, or relaunch of businesses. WE emphasizes environmental and social standards and promotes sustainable and circular economic models.