Tag Archives: Energy

AddEnergie secures $53M financing to accelerate the expansion of its North American EV charging network

Cdpq

AddEnergie Technologies Inc. (AddEnergie) is pleased to announce the first closing of its Series C financing round. The total commitments from this $53 million financing plan will enable the company to pursue its ambitious growth strategy and accelerate the expansion of FLO®, its North American electric vehicle (EV) charging network.

“Today’s announcement is a major milestone for AddEnergie and an important endorsement of our business strategy by new and existing investors” said Louis Tremblay, President and CEO of AddEnergie. “With this financing and following our successful launch in the United States we are now in a position to accelerate our growth across North America as the transition to EVs is gaining momentum and becomes increasingly recognized as playing a pivotal role in the global efforts to combat climate change.”

The new investor syndicate is led by Mackinnon, Bennett & Company Inc. (MKB), and includes Business Development Bank of Canada, Fonds de solidarité FTQ and Export Development Canada (EDC). In addition, the company is pleased to once again count on the long-time support of its existing investors Caisse de dépôt et placement du Québec (CDPQ) and Investissement Québec. The Company also recently entered into a new credit facility from National Bank of Canada’s Technology and Innovation Banking group.

“MKB is thrilled to have led this new investment round in AddEnergie and to support its exceptional management team. AddEnergie’s mission and strategy is at the nexus of the decarbonization, electrification and digitization of transportation. The company has a proven track record in key markets, a competitive value proposition and is well positioned for the next phase of its expansion. As a growth equity investor in next generation energy and transportation, we expect this investment to bring long term value to our portfolio and help accelerate the energy transition” said Antonio Occhionero, Partner, MKB.

“CDPQ has played a part in AddEnergie’s development since 2016, driven by the desire to support the company’s growth and expansion. We were there as they penetrated the Canadian and U.S. markets, and we are proud to reaffirm our commitment to AddEnergie as it pursues its expansion plan,” said Kim Thomassin, Executive Vice-President and Head of Investments in Québec and Stewardship Investing at CDPQ. “This investment aligns with our strategic priorities – not only does it support a Québec company’s international expansion, it allows us to increase our holdings in low-carbon assets, which is a benefit to everyone.”

“Québec is today considered a leader in the electrification of transportation, thanks to its numerous innovative companies like AddEnergie. We can be very proud of our cutting edge organizations that export our knowhow and activity contribute to the worldwide electric shift. The investment we are announcing today will accelerate AddEnergie’s growth and stimulate its international development” said Pierre Fitzgibbon, Minister of Economy and Innovation.

A plan to grow the company’s footprint and leadership in EV charging

Despite the current pandemic, AddEnergie was able continue its progression in 2020, deploying over 11,000 charging stations in the past 12 months and expanding the FLO network to cities like Los Angeles, Cincinnati and Toronto. The company is now in a position to bring its comprehensive approach to EV charging – which includes residential, workplace, fleets, commercial, public, fast charging and more – to a growing number of markets in North America. AddEnergie will also continue its sustained investments in R&D and market development in order to maintain its leadership as a dependable, market-leading network operator, while making sure it meets the evolving needs of EV drivers in the years to come.

About AddEnergie

AddEnergie is a leading North American charging network operator for electric vehicles and a major provider of smart charging software and equipment. Every month, AddEnergie charging stations and its FLO network enable approximately half a million charging events and the transfer of 5.5 GWh in electricity, thanks to 30,000 high-quality stations deployed on public networks, commercial and residential installations. AddEnergie’s headquarters and network operations centre are based in Quebec City, and its assembly plant is located in Shawinigan (Quebec). The company also has regional offices in Montreal (Quebec), Mississauga (Ontario), Vancouver (British Columbia) and Rochester (New York). For more information, visit addenergie.com/en.

About MKB

MKB is a Montreal-based private investment firm that specializes in providing growth equity to the next generation energy and transportation sectors. MKB takes significant minority positions in its portfolio companies and proactively assists management teams in reaching their full potential. To learn more about MKB, visit www.mkbandco.com.

About Caisse de dépôt et placement du Québec

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

About Investissement Québec

Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.

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KKR Launches Renewable Energy Platform Virescent Infrastructure in India

KKR

October 29, 2020

New platform to own and operate a diversified portfolio of renewable assets in India

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Virescent Infrastructure (“Virescent” or the “Company”), a newly created platform to acquire renewable energy assets in India.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029006392/en/

Headquartered in Mumbai, Virescent aims to expand its diversified portfolio of operational renewable energy assets, facilitated by investments predominantly made through KKR’s infrastructure fund. Virescent looks to identify investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

Virescent currently owns 317MWp of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, these projects will also become part of the Virescent platform.

Virescent’s launch comes as renewables are expected to become an increasingly important energy source for citizens across India. Renewable energy is estimated to comprise approximately 60% of India’s installed power capacity by 2030, from around 24% at present, according to India’s Ministry of Power and New & Renewable Energy.

Hardik Shah, a Managing Director on KKR’s Infrastructure team, said, “The launch of Virescent is a meaningful milestone for KKR’s Asia Pacific infrastructure strategy amid India’s ambitions to install 175GW of renewable energy capacity by 2022 and 450GW by 2030. We look forward to playing a part in meeting these goals and supporting the Government’s Green Energy Corridor initiative through our investment in Virescent.”

Virescent is led by CEO Sanjay Grewal, who brings to the Company more than 30 years of experience in the Indian and global infrastructure sector. He will be responsible for identifying, planning, and executing investment opportunities for Virescent.

Mr. Grewal said, “Positive government initiatives have created a number of long-term investment opportunities in India’s rapidly transforming renewable energy sector. We are thrilled that Virescent will seek to invest in many of these great opportunities, in addition to achieving stable returns by acquiring high-quality, low-risk, and income-yielding assets with stable and long-term cashflows. I am truly excited to be part of this dynamic industry and for the chance to enhance KKR’s infrastructure strategy by building Virescent’s renewables portfolio.”

KKR takes a flexible approach to infrastructure investment in Asia Pacific, and combines the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value to companies. Today, KKR’s global infrastructure portfolio spans sectors such as energy, transportation, telecom, oil and gas, and water. Renewable energy represents a key vertical within KKR’s infrastructure strategy, having invested in renewable energy businesses with more than 10,000 MW of total operational capacity.

Virescent additionally deepens KKR’s presence in the Indian market. KKR has been investing in India since 2006, and has since honed its strategy to combine KKR’s global network with the local team’s market knowledge and investment expertise. Today, KKR aims to be a patient capital provider able to help bring flexible financial solutions to meet the needs of India’s private and public sectors. The Firm is extensively engaged in the operations and strategies of its portfolio companies across asset classes, including infrastructure, private equity and credit, to corporations and real estate businesses. KKR’s recently announced investments across asset classes includes, but is not limited to, Reliance Jio, Reliance Retail, IndiGrid, JB Chemicals, Max Healthcare and Ramky Envirotech.

About Virescent Infrastructure

Virescent Infrastructure (Virescent) is a renewable energy company in India. Headquartered in Mumbai, Virescent will expand its diversified portfolio of operational renewable energy assets by identifying investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:

Prose Integrated (For Virescent Infrastructure)
Shirley C Dsilva
+91 9870060007
shirley@proseintegrated.com
media@virescent.co.in

For KKR:
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Source: KKR & Co. Inc.

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Kleinfelder Acquires Gas Transmission Systems

Wind Point Partners

Acquisition strengthens Kleinfelder’s gas utilities and pipeline services

Chicago, IL, October 20, 2020 – Wind Point Partners (“Wind Point”) and portfolio company The Kleinfelder Group, Inc. (“Kleinfelder”), a leading engineering, construction management, design, and environmental professional services firm, are pleased to announce that Kleinfelder has acquired Gas Transmission Systems, Inc. (“GTS” or the “Company”). The acquisition bolsters Kleinfelder’s U.S. market position as an industry-leading gas utilities and pipeline services expert.

Founded in 1998 and headquartered in Walnut Creek, California, GTS provides pipeline engineering, consulting and program management services to gas utilities and pipeline operators with a focus on infrastructure integrity management and rehabilitation. The combination will further expand Kleinfelder’s energy infrastructure services and capabilities. GTS operates out of five offices throughout California, Arizona and Georgia.

 

“We are excited to partner with GTS and its talented team, and we look forward to supporting them in GTS’s next phase of growth.”

Nathan Brown, Managing Director

Louis Armstrong, President and CEO of Kleinfelder, noted, “As a well-established gas utilities and pipeline services firm, GTS is a strong addition to Kleinfelder. This transaction aligns with our strategic direction and strengthens Kleinfelder’s service capabilities for utilities across the U.S. The specialized expertise of GTS will accelerate Kleinfelder’s growth in the power and utilities market and position the firm for further expansion.”

 

Nathan Brown, Managing Director at Wind Point Partners, commented, “GTS exemplifies our acquisition strategy of acquiring complementary businesses that expand and strengthen Kleinfelder’s service offerings, geographic reach, and customer base. We are excited to partner with GTS and its talented team, and we look forward to supporting them in GTS’s next phase of growth.”

GTS’s organizational structure will remain under the direction of Ben Campbell, who has been GTS President since early 2020. “GTS is very excited to be partnering with Kleinfelder,” said Mr. Campbell.  “Similar to GTS, Kleinfelder has a great reputation for delivering high quality technical services to its clients.  Together, we will be able to provide even more vertically integrated services and solutions to benefit our clients.  I look forward to an extraordinary future working together.”

GTS represents the fourth acquisition for Kleinfelder since partnering with Wind Point in November 2018. Kleinfelder’s acquisition strategy will continue to focus on acquiring leading engineering, environmental and professional services firms with complementary employee-focused cultures and a trusted commitment to clients.

Winston & Strawn LLP served as legal counsel and KPMG provided transaction advisory and tax services to Kleinfelder. Senex Advisory served as sell-side financial advisors.

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Vow ASA and Tinfos AS has entered into a cooperation agreement

Reiten

16th October, 2020

Vow ASA and Tinfos AS has entered into a cooperation agreement to distribute Vow’s onshore ‘Plastic to Electricity’ solution in selected countries and markets, starting with Indonesia.

Vow offers a wide range of technologies and solutions which converts different waste materials into valuable raw materials and clean energy. These days, handling of plastic waste is a particularly relevant topic in the company’s dialogue with customers.

The solution which will be offered in Indonesia is mobile and container based. It basically converts plastic waste to electricity through pyrolysis. The solution will replace diesel in local power production. Similar container based units are already in use as part of a pilot project at the municipal waste company Lindum’s facilities outside Drammen, Norway, and at Vow’s own facility at Vernon, France.

“We are looking forward to working with Tinfos AS and deliver such ground-breaking technology and solutions to a significant problem in many communities. The main objective is to solve local plastic waste problems to prevent this entering our oceans, at the same time to generate energy. This means that we give plastic waste an economic value for the local communities and an incentive to solve the problem. We expect that the cooperation agreement will result in delivery of several such units in the course of the coming years,” says Henrik Badin, CEO of Vow ASA.

Tinfos AS is one of Norway’s oldest companies and among the first in the world to generate renewable energy in form of electricity from hydro power. Today, the company is involved in development and operation of run-of-river hydro power stations in Norway and abroad. Outside Norway, Tinfos AS is particularly engaged in Indonesia where the company has operated since 2009, and in Western Balkan.

“For a long period of time, Tinfos AS has witnessed with grave concern how lack of solutions for collection and handling of plastic has led to significant damage to the environment, both on shore and in the sea around Indonesia,” says Øyvind Frydenberg, CEO in Tinfos AS.

Frydenberg further adds; “By using Vow’s solutions for ‘Plastic to Electricity’, Tinfos AS wishes to contribute to solving this challenge, and at the same time provide meaningful jobs for local waste collectors in Indonesia.”

Tinfos AS sees strong synergies between the company’s ongoing activities related to development and operation of run-of-river powerplants in Indonesia and Vow’s solutions. Indonesia comprises around 17 000 islands with a complex logistics, which makes Vow’s ‘plug-and-play’ solutions particularly relevant.

For further information, please see company press release

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Blackstone Energy Partners closes sale of 42% stake in Cheniere Energy Partners, L.P.

Blackstone

NEW YORK, September 24, 2020 — Today, Blackstone (NYSE: BX) announced that private equity funds managed by Blackstone Energy Partners have closed the sale of their approximately 42% stake in Cheniere Energy Partners, L.P. to Brookfield Infrastructure and funds managed by Blackstone Infrastructure Partners. The transaction values the approximately 42% stake at $7 billion.

The sale represents the culmination of Blackstone Energy Partners’ 8+ years of involvement with Cheniere. In 2012 Blackstone Energy Partners and its affiliates invested $1.5 billion in Cheniere Energy Partners to build the first two liquefaction trains at the Sabine Pass LNG facility in Louisiana. Sabine Pass was the first LNG export facility in the lower 48 states, providing a critical link between North American gas producers and growing international LNG demand centers. The construction of Sabine Pass created 5,000 US jobs and continues to support American energy independence, generate export revenues, and provide cleaner, more affordable energy to millions of people worldwide.

Commenting on the transaction, David Foley, Global Head of Blackstone Energy Partners said: “Blackstone’s early equity commitment to Cheniere enabled the timely construction of Sabine Pass, the first LNG export facility in the lower 48 states and one of the largest construction projects in the U.S. I’m proud of the success of the project, the support we were able to provide to Cheniere’s outstanding executive management team as they ably dealt with various challenges over the years and the tremendous return we delivered for our investors.”

Jack Fusco, Chief Executive Officer, Cheniere said: “Cheniere is grateful for the collaborative and mutually beneficial partnership we have had with Blackstone Energy Partners over the past eight years. Today, Sabine Pass is a world-scale LNG complex, providing flexible, reliable, and cost competitive U.S. LNG to markets worldwide, and I would like to thank David Foley and the Blackstone team for their contributions to Cheniere’s many successes. We still have much to accomplish at Cheniere, and I look forward to working alongside Blackstone Infrastructure Partners and Brookfield Infrastructure Management to achieve our shared goals.”

Sean Klimczak, Global Head of Blackstone Infrastructure Partners added: “Under the leadership of Jack Fusco and his team, Sabine Pass has successfully transitioned from a construction project to a global leader in the LNG sector. Cheniere benefits from long-term contracted revenues across a diverse set of investment-grade counterparties, generating the stable and growing cash flows we seek to add to our infrastructure investment portfolio. Our team is excited to partner with Brookfield to invest in this large-scale, high quality infrastructure company.”

Jefferies LLC and Morgan Stanley acted as financial advisors to Blackstone Energy Partners, while Latham & Watkins acted as legal advisor. Rothschild & Co acted as financial advisor to Blackstone Infrastructure Partners, while Simpson Thacher & Bartlett served as legal advisor.

About Blackstone Energy Partners
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $17 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Blackstone Infrastructure Partners
Infrastructure is one of Blackstone’s most active investment areas. Over the last 15 years, we have invested in more than $46 billion of infrastructure-related projects globally. Blackstone’s approach to infrastructure investing is one that puts a focus on responsible stewardship and community engagement. In areas such as clean power, energy transmission, communications technology, and many others, we have helped move forward sustainable projects that drive local economic growth and job creation, and enhance quality of life. In doing so, we work closely with civic stakeholders to help make sure that critical infrastructure is developed in a responsible manner that is responsive to community needs.

Contacts
Blackstone
Paula Chirhart
347-463-5453
paula.chirhart@blackstone.com

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KKR to Invest ₹ 5,550 Crore in Reliance Retail Ventures

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KKR

KKR’s Second Investment With Reliance Industries Fuels Growth of India’s Fastest Growing Retail Business and Its Transformational New Commerce Model

MUMBAI, India–(BUSINESS WIRE)–

Reliance Industries Limited (“Reliance Industries”) and Reliance Retail Ventures Limited (“RRVL”) announced today that global investment firm KKR will invest ₹ 5,550 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of ₹ 4.21 lakh crore. KKR’s investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis.

This marks the second investment by KKR in a subsidiary of Reliance Industries, following a ₹ 11,367 crore investment in Jio Platforms announced earlier this year.

Reliance Retail Limited, a subsidiary of RRVL, operates India’s largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide. Reliance Retail’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers by empowering millions of farmers and micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians. Reliance Retail, through its New Commerce strategy, has started a transformational digitalization of small and unorganised merchants and is committed to expanding the network to over 20 million of these merchants. This will enable the merchants to use technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

Founded in 1976, KKR has $222 billion in assets under management as of June 30, 2020 and a long history of building leading global enterprises, including many companies at the forefront of technology and digital transformation including in areas of consumer retail and eCommerce, such as investments in Epic Games, OutSystems, Internet Brands, Go-jek and Voyager Innovations. KKR established its first of eight Asia offices in 2005 and the firm currently has approximately $5.1 billion in private equity investments across more than 15 Indian companies, including Jio Platforms, JB Chemicals, Max Healthcare, Eurokids International and Ramky Enviro Engineers.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march to growing and transforming the Indian Retail ecosystem for the benefit of all Indians. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational expertise across our digital services and retail businesses.”

Henry Kravis, Co-Founder and Co-CEO of KKR, said, “We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures, which is empowering merchants of all sizes and fundamentally changing the retail experience for Indian consumers. Reliance Retail’s new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers move to shopping online and the company offers tools for Kiranas to be a critical part of the value chain. We are thrilled to support Reliance Retail in its mission to become India’s leading omnichannel retailer and ultimately to build a more inclusive Indian retail economy.”

KKR is making its investment from its Asia private equity funds. The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Deloitte Touche Tohmatsu India LLP acted as financial advisor to KKR. Shardul Amarchand Mangaldas & Co. and Simpson Thacher & Bartlett LLP acted as legal counsel to KKR.

About Reliance Industries Limited (RIL)

RIL is India’s largest private sector company, with a consolidated turnover of INR 659,205 crore ($87.1 billion), cash profit of INR 71,446 crore ($9.4 billion), and net profit of INR 39,880 crore ($5.3 billion) for the year ended March 31, 2020.

RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. RIL is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Companies’ – currently ranking 96th. The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. It ranks 10th among LinkedIn’s ‘The Best Companies to Work For In India’ (2019).

About Reliance Retail Ventures Limited

Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited, and holding company of all the retail companies under the RIL Group. RRVL reported a consolidated turnover of ₹ 162,936 crore ($ 21.7 billion) and net profit of ₹ 5,448 crore ($ 726.4 million) for the year ended March 31, 2020.

Reliance Retail topped the list of ‘50 fastest-growing retailers globally between FY2013-2018’ in the Deloitte’s Global Powers of Retailing 2020 index. Reliance Retail secured the 56th spot this year against the 94th rank the previous year and is the only Indian company to be featured in this list.

KKR Asia Pacific
Zita Setiawan
+65 8940-5835
Zita.Setiawan@secondee.kkr.com

David Katz
+65 6922-5872
David.Katz@kkr.com

KKR Americas
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
+1 212.750.8300
Media@KKR.com

Source: KKR

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Enel X and Ardian Infrastructure launch battery storage partnership in Canada

Ardian

  • 14 September 2020 Infrastructure Rome , Italy
  • The joint venture, which currently includes ten projects for around 30 MW of capacity, is dedicated to operating and developing battery storage projects in Ontario, Canada

    • Ardian Infrastructure holds 80% of the partnership, while Enel X holds the remaining 20% and will continue to manage the operations and maintenance of all projects as well as the development of future projects

Rome, September 14, 2020 – Enel X, the Enel Group’s advanced energy services business line, and Ardian, a world-leading private investment house, have entered into a joint venture to manage Enel X’s battery storage projects in Canada and support the acceleration of the development of similar projects in the country.

“Battery storage systems represent a key element in the transition towards a decarbonized energy system as they facilitate the flexibility and stability of grids, and we are committed to empowering customers to help drive the shift towards these technologies,” said Francesco Venturini, CEO of Enel X. “This partnership with Ardian Infrastructure represents an important step that will further support the expansion of innovative energy efficiency solutions in the North American market. In partnering with Ardian we are combining our financial strength and Enel X’s industry expertise to create even more value for our customers and further accelerate our growth in the region.”

“This investment bolsters Ardian’s position as a leading player in the sustainable energy sector across the Americas,” said Stefano Mion, Senior Managing Director and co-head of Ardian Infrastructure US. “This latest partnership, our first in Canada, marks an important step forward as we diversify our sustainable energy portfolio into the rapidly growing battery storage sector. Behind-the-meter battery storage is a compelling component of the sustainable energy ecosystem as it allows users to store electricity when it is least expensive and consume it when costs from the grid are most expensive. We are excited to partner with Enel X on the opportunity to accelerate the joint venture’s growth, initially in Canada but longer term across the Americas.”

Under the agreement, a dedicated vehicle company, 80% owned by Ardian Infrastructure and 20% by Enel X, has been constituted to manage the battery storage projects in Canada currently included in the joint venture for around 30 MW of capacity. The battery storage portfolio is composed of ten asset locations throughout Ontario and includes two separate 10 MW/20 MWh projects expected to reach commercial operations in 2021. Through the partnership, Enel X will continue to construct, operate, and maintain these projects and will be responsible for the development of future projects.

The partnership with Ardian is in line with Enel X’s commitment to foster the deployment of cutting-edge energy service solutions for commercial and industrial (C&I) clients, leveraging on the company’s offering of integrated services to end customers. All of Enel X’s storage projects utilize the company’s Distributed Energy Resources (DER) Optimization software that has the unique capability to maximize the earnings potential across multiple use cases, such as demand and energy management programs. Through the financial support of Ardian, the platform will enable C&I customers to deploy state-of-the-art energy storage equipment, aimed at making power consumption and infrastructure more efficient.

The deal is part of Ardian’s ongoing commitment to invest in new technology and clean energy assets with the aim to create a more sustainable energy market and address climate change, as outlined in its most recent Augmented Infrastructure report. With 50 employees across eight offices throughout the Americas and Europe, the Ardian Infrastructure team is a world leading Infrastructure Fund Manager focused on the energy and transportation sectors.

About Enel X

Enel X in North America manages over 10.5 billion US dollars in customers’ annual energy spend for approximately 4,500 business customers, spanning more than 35,000 sites. The company has approximately 4.7 GW of demand response capacity and over 70 behind-the-meter storage projects in operation or under contract. Enel X’s intelligent DER Optimization Software is designed to analyze real-time energy and utility bill data, improve performance, and manage distributed energy assets across a number of different value streams and applications.
Enel X is Enel’s global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility. The company is a global leader in the advanced energy services field with a demand management capacity of more than 6 GW globally managed and assigned and 110 MW of storage capacity worldwide, as well as a leading operator in the electric mobility sector, with 80,000 public and private EV charging points around the globe.

Visit the website

About Ardian

Ardian is a world-leading private investment house with assets of 100 billion US dollars managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 690 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

PRESS CONTACT

Enel X – Media relations

ufficiostampa@enel.com

+39 06 8305 5699

Ardian – The Neibart Group

Emma Murphy

emurphy@neibartgroup.com

+1 347 968 6800

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Aibel awarded major Equinor contract in Hammerfest, Norway

Ratos

Aibel has been awarded a contract to increase capacity for gas extraction and in a next step work to reduce CO2 emissions from the Snøhvit field, a natural gas field on the Norwegian continental shelf outside Hammerfest. Equinor has awarded the contract to Aibel through the parties in Snøhvit Unit *.

The contract is a so-called FEED contract (Front-end engineering), for modification of the Hammerfest LNG plant. The value of the contract is estimated at NOK 140 million. In addition, the contract includes an option for each of the sub-projects for an execution phase including engineering, procurement, construction and installation (EPCI) for compression and electrification. The value of the options is of major size**.

Aibel’s task in the FEED phase consists of two parts: The first sub-project involves the construction of an onshore compression station at the Hammerfest LNG plant. The second sub-project is related to investigating electrification of the Hammerfest LNG plant to minimize the Snøhvit carbon footprint.

“We are excited to become part of further development of the future LNG plant at Melkøya outside Hammerfest, where we already have a long and good track record from our modification and maintenance contract,” says Aibel’s President and CEO Mads Andersen.

“We are very pleased that Equinor has chosen us as a partner for important projects on the Norwegian Continental Shelf for the third time in a short period of time,” the CEO continues, referring to this summer’s award of the electrification of Gina Krog and Sleipner as well as the portfolio agreement for Oseberg.

“We are proud that Aibel is once again gaining confidence from Equinor to contribute to the transition to a cleaner and more sustainable business on the Norwegian Continental Shelf,” says Christian Johansson Gebauer, Head of Business Area Construction & Services at Ratos.

The project will be managed from Aibel’s office in Asker, and around 80 employees will participate in the FEED phase. Start-up takes place immediately, with the scheduled delivery of the FEED in April 2021.

*The Snøhvit Unit partners are: Equinor Energy AS (operator), Petoro AS, Total E&P Norge AS, Neptune Energy Norge AS and Wintershall Dea Norge AS.

**Aibel uses the term “major size” on contracts where the value of Aibel’s scope is higher than NOK 2.5 billion.

LNG stands for Liquefied Natural Gas.

 

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

 

 

 

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Ratos – Aibel awarded major Equinor contract in Hammerfest, Norway

Ratos

Aibel has been awarded a contract to increase capacity for gas extraction and in a next step work to reduce CO2 emissions from the Snøhvit field, a natural gas field on the Norwegian continental shelf outside Hammerfest. Equinor has awarded the contract to Aibel through the parties in Snøhvit Unit *.

The contract is a so-called FEED contract (Front-end engineering), for modification of the Hammerfest LNG plant. The value of the contract is estimated at NOK 140 million. In addition, the contract includes an option for each of the sub-projects for an execution phase including engineering, procurement, construction and installation (EPCI) for compression and electrification. The value of the options is of major size**.

Aibel’s task in the FEED phase consists of two parts: The first sub-project involves the construction of an onshore compression station at the Hammerfest LNG plant. The second sub-project is related to investigating electrification of the Hammerfest LNG plant to minimize the Snøhvit carbon footprint.

“We are excited to become part of further development of the future LNG plant at Melkøya outside Hammerfest, where we already have a long and good track record from our modification and maintenance contract,” says Aibel’s President and CEO Mads Andersen.

“We are very pleased that Equinor has chosen us as a partner for important projects on the Norwegian Continental Shelf for the third time in a short period of time,” the CEO continues, referring to this summer’s award of the electrification of Gina Krog and Sleipner as well as the portfolio agreement for Oseberg.

“We are proud that Aibel is once again gaining confidence from Equinor to contribute to the transition to a cleaner and more sustainable business on the Norwegian Continental Shelf,” says Christian Johansson Gebauer, Head of Business Area Construction & Services at Ratos.

The project will be managed from Aibel’s office in Asker, and around 80 employees will participate in the FEED phase. Start-up takes place immediately, with the scheduled delivery of the FEED in April 2021.

*The Snøhvit Unit partners are: Equinor Energy AS (operator), Petoro AS, Total E&P Norge AS, Neptune Energy Norge AS and Wintershall Dea Norge AS.

**Aibel uses the term “major size” on contracts where the value of Aibel’s scope is higher than NOK 2.5 billion.

LNG stands for Liquefied Natural Gas.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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DIF Capital Partners invests in 900 MW Canadian power project

DIF

DIF Capital Partners, through DIF Infrastructure VI (“DIF”), is pleased to announce its investment in the 900-megawatt Cascade Power Project (“Cascade” or the “Project”) in Canada. Together with joint equity sponsors OPTrust and Axium Infrastructure, DIF will invest in the construction of Cascade. The equity sponsors and its development sponsors Kineticor and Macquarie Capital, successfully closed financing of the CAD 1.5 billion Project today, including securing non-recourse project financing.

Cascade is a 900-megawatt combined cycle natural gas-fired generating facility to be located near Edson, Alberta. Siemens Energy will provide two highly efficient single shaft SCC6-8000H power trains and provide maintenance support under a long-term service agreement. Cascade is strategically situated in proximity to significant gas production as well as the NGTL System and high voltage electrical transmission lines, an important competitive advantage for Cascade. Construction will start immediately with commercial operations commencing in 2023. Cascade is contracted and benefits from long-term gas netback agreements which provide cashflow stability and downside protection once the project is commissioned.

Cascade will lead the transition to a lower carbon intensive power grid in Alberta by supporting the province’s transition off coal-fired power, generating low emissions electricity that is expected to supply over 8 percent of the province’s average demand. With Alberta contributing over 50 percent of Canada’s greenhouse gas emissions from electricity generation, Cascade is expected to result in one of the largest emissions reduction opportunities in the country’s electricity sector.

BPC, a joint venture between affiliates of PCL Construction and Overland Contracting Canada, Inc., a Black & Veatch Company, will construct the facility under an Engineering, Procurement and Construction Services contract with Kineticor acting as construction and asset manager. Cascade will additionally benefit the local community with over 3 million work hours of labour required for construction, creating approximately 600 jobs during peak construction as well as 25 long-term jobs during operation.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

 

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