Korys Investments, an investment company of the Colruyt family, has agreed to acquire an additional 30% stake in Belgium-based Virya Energy from the Colruyt Group.

The transaction, valued at €600m, will increase Korys’ stake in Virya Energy from 40% to 70%.

Colruyt Group’s shareholding in the Belgium-based energy company will decrease from 59.94% to 30%.

Korys aims to bolster Virya Energy’s capacity to achieve its ambitious international growth objectives.

The acquisition of a controlling interest in Virya Energy, coupled with the reinvestment of proceeds from 2023’s sale of Parkwind to JERA, will boost Korys’ position in the renewable energy market.

Korys partner Dries Crevits stated: “This share transfer represents a logical next step in our strategy that will further strengthen our position in the renewable energy landscape.

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“We have always been dedicated to driving progress in the energy transition, and with a majority stake in Virya Energy we are poised to accelerate our efforts and make a more significant contribution.”

Virya Energy CEO Paul Tummers stated: “This shift in ownership structure is a positive and natural development for Virya Energy. Korys’ commitment to sustainability aligns perfectly with our vision to develop more than 3GW of production capacity across the full energy value chain over the next ten years.

“With their increased support, we can confirm our ambition to be a driving force in the transition to a sustainable energy future in Belgium and beyond.”

Despite the change in ownership, Virya Energy and the Colruyt Group will maintain their collaborative efforts in energy transition projects.

This includes the group’s goal to achieve zero-emission goods transportation by 2035. Virya Energy, established in 2019 by the Colruyt Group and Korys, operates across the sustainable energy value chain, with green energy production in Europe and Asia.