(Bloomberg) -- French renewables developer Akuo Energy SAS is working to secure financing to revive its solar and wind projects and is re-evaluating where it builds them, after ditching efforts to find a buyer earlier this year.

The company — which ended talks with potential buyers in September amid disagreements over its valuation and strategy — needs funds to speed up projects in Europe and the US, President and co-founder Eric Scotto said. New construction probably bottomed this year as Akuo, like many in the industry, suffered from cost pressures, he said. 

The broader renewables sector has been hit by soaring solar panel and turbine prices, higher borrowing costs and long-running supply chain issues. That has prompted some companies to delay or pull the plug on projects, dealing a blow to governments’ green push.

“We’re continuing to work on industrializing our access to equity” for projects, Scotto said in an interview in Paris last week. He also said that the company will next year accelerate the construction of projects and decide what countries to expand or pull back in.

To get projects off the ground quicker, Akuo is in talks with long-term investors about creating a funding pool from which they can be developed, Scotto said, without naming any. That would be quicker than financing them on a case-by-case basis, and an agreement could be announced early next year, he said.

“We have opportunities to accelerate in some areas where we are successful, such as Greece, the Balkans, Portugal, France, the US,” Scotto said, while cautioning that the developer “can’t be everywhere.”

The company has about 1.5 gigawatts of wind, solar and battery projects in operation around the world in countries including Poland and Mali, as well as islands in the Indian and Pacific oceans.

KKR & Co. and InfraVia Capital Partners were among suitors competing to buy Akuo, Bloomberg reported earlier this year. The Paris-based developer isn’t publicly traded, and is mostly owned by Scotto, co-founder Patrice Lucas and Intermediate Capital Group.

In Portugal, Akuo plans to finish building a 180-megawatt solar farm — enough to supply more than 100,000 households — in March. It has also just started constructing a slightly smaller project there, which should be followed by another in the first half of 2024.

Those projects, which were awarded by the government in 2019 at record-low power prices, have been held back by rising costs. They were revived after Portuguese authorities allowed the sale of some electricity at higher wholesale market prices. While that helped, they won’t achieve the margins it initially expected, according to Scotto.

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In other nations, Akuo is finalizing a power-purchase agreement for a 150-megawatt solar project in Texas, and plans to develop a 450-megawatt solar farm in North Macedonia. It also has “great ambitions” for renewable and storage facilities in Greece, Scotto said.

A recent drop in costs of equipment for things like solar “is giving us a bit of breather on upcoming large projects,” he said.

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