Tag Archives: Energy

Apollo Funds Announce $175 Million Strategic Investment in Summit Ridge Energy, a Leading Owner-Operator of Community Solar

Apollo
Investment builds on Apollo and Summit Ridge’s shared commitment to support the clean energy transition

NEW YORK and ARLINGTON, Va., July 13, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Summit Ridge Energy, LLC (“Summit Ridge”) announced today that funds managed by Apollo affiliates (the “Apollo Funds”) have agreed to make a $175 million strategic investment in Summit Ridge, a leading owner-operator of community solar assets.

Since launching in 2017, Summit Ridge has formed two joint ventures totaling over $1 billion in permanent project capital and has grown its portfolio of solar projects in operation or under construction to more than 300 MW. By the end of 2023, Summit Ridge expects to have more than 500 MW of solar and 100 MWh of battery storage projects online providing energy savings to approximately 175,000 residential and commercial customers. With the investment from the Apollo Funds, Summit Ridge will look to further expand its geographic footprint and continue to scale its platform.

Community solar is a rapidly growing segment of the renewables market that allows individuals, businesses, nonprofits and other groups to participate in the clean energy economy by subscribing to local solar farms at discounted rates to traditional utilities. Community solar projects have increased access to clean energy savings in urban and low-to-moderate income markets. Since 2018, the installed capacity of community solar has skyrocketed, a trend that is expected to continue as consumers become more environmentally conscious, solar economics improve and commitments to the energy transition increase across the country.

Wilson Handler, Apollo Partner, said, “Summit Ridge is an ideal partner for Apollo in the community solar segment as a first mover with a flexible, fully-integrated business model and a proven management team. With this investment, we see tremendous opportunity to access a high-growth segment of the renewables market while also producing positive environmental and social outcomes for local stakeholders. We look forward to working with Steve and the rest of the Summit Ridge team to execute on its current pipeline while exploring additional opportunities to create value.”

Summit Ridge Energy CEO Steve Raeder said, “Summit Ridge is on a strong trajectory and we are excited to welcome Apollo as a new partner. Apollo’s long track record of sustainable investing, coupled with its operational expertise and significant resources, are an excellent match for Summit Ridge’s fast paced growth and leading position in the clean energy economy.”

Corinne Still, Apollo Partner, said, “We are pleased to work with Summit Ridge to expand access for underserved communities to participate in the clean energy transition. Community solar offers compelling benefits for individuals, households and businesses alike. In supporting Summit Ridge’s continued growth, we expect to have a significant positive impact on communities by facilitating increased uptake of renewable energy sources, creating local jobs and developing sustainable infrastructure.”

As a result of the investment by the Apollo Funds, Apollo Partners Corinne Still and Wilson Handler will join the Summit Ridge Energy Board of Directors. Summit Ridge Energy CEO, Steve Raeder, will continue to serve as the board’s chairman.

The transaction underscores Apollo’s commitment to driving a more sustainable future and long track record of investing in or lending to companies supporting the clean energy transition. Earlier this year, Apollo launched its Sustainable Investing Platform, which targets to deploy $50 billion in clean energy and climate capital over the next five years and sees the opportunity to deploy more than $100 billion by 2030. Over the last five years, Apollo deployed over $19 billion1 into energy transition and sustainability-related investments, supporting companies and projects across clean energy and infrastructure, including offshore and onshore wind, solar, storage, renewable fuels, electric vehicles as well as a wide range of technologies to facilitate decarbonization.

Vinson & Elkins served as legal counsel to the Apollo Funds in the transaction. Citibank N.A. served as lead financial advisor and Saul Ewing served as legal counsel to Summit Ridge.

________________________
1 As of December 2021. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) purchase price on the settlement date for private non-traded debt; (ii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iii) total capital organized on the settlement date for syndicated debt; and (iv) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.


About Apollo
Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.

About Summit Ridge Energy
Launched in 2017, Summit Ridge Energy is the nation’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team develops, acquires and finances projects within the rapidly growing solar energy and battery storage sectors. By the end of 2023, Summit Ridge expects to have more than 500 MW of solar and 100 MWh of battery storage projects online providing energy savings to approximately 175,000 residential and commercial customers. Learn more at srenergy.com.

Apollo Contact Information
For Investors:
Noah Gunn, Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

For Media:
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com

Summit Ridge Energy Contact Information
For Business Development:
business@srenergy.com

For Media:
Isaac Steinmetz
Antenna Group for Summit Ridge Energy
(646) 883-3655
press@srenergy.com

 


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Source: Apollo Global Management, Inc.

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DIF Capital Partners supports further growth of Greener, a leading Dutch mobile battery solution provider

DIF Capital Partners (“DIF”) is pleased to announce that through DIF CIF III (the “Fund”) it has signed an agreement to partner with Greener Power Solutions B.V. (“Greener”), a leading mobile battery solution provider, headquartered in Amsterdam, the Netherlands. The Fund will acquire a majority stake and provide capital that will enable Greener to rapidly grow its battery fleet in order to expand its service offering and achieve its ambitious growth plans in the Netherlands and abroad.

Greener is a market leader in mobile battery solutions in the Netherlands with a portfolio of 60 containerized mobile batteries. Through its mobile batteries the company provides contracted mobile green power solutions to customers who have insufficient or no grid connection capacity available. Greener supplies off- and on-grid power solutions to among others construction sites, customers awaiting grid upgrades, large scale events and temporary EV charging locations.

Demand for mobile battery solutions is growing rapidly due to tightening emission regulations, pushing construction companies to use more environmentally friendly power solutions, and growing grid constraints leading to an increased demand for temporary power. Greener is strongly positioned due to its sizeable fleet of high-quality mobile batteries, experience in installing and operating batteries and in-house developed software platform, which offers customers convenience and cost savings tailored to their specific applications.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, says: “DIF believes that the ongoing push to decarbonize the economy and reduce nitrogen emissions will continue to increase pressure on companies to utilize clean energy solutions, as evidenced by the ongoing nitrogen crisis in the Netherlands. Moreover, Greener is expected to benefit from the constraints to enlarge grid capacity in the Netherlands. Greener’s mobile power solutions offers a material reduction in emissions and thereby supports the energy transition. We are excited to on-board on this journey together with management to realize Greener’s ambitious growth and decarbonization plans”.

Dieter Castelein, CEO of Greener: “The investment of DIF Capital Partners enables us to achieve new goals and pursue great opportunities to further improve and expand our power solutions. We believe that temporary power supply will play a great role in the energy transition and we aim to make a significant contributions to the acceleration of this transition.”

Closing of the transaction is expected to take place in July 2022.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

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NFE and Apollo Funds Agree to Form a New Joint Venture for LNG Maritime Infrastructure; Transaction Valued at Approximately $2 billion

Global LNG Marine Infrastructure Platform Provides Reliable, Cleaner and More Affordable Energy to Support Transition

NEW YORK–(BUSINESS WIRE)–New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) and Apollo (NYSE: APO) today announced that they have entered into a definitive Equity Purchase and Contribution Agreement (the “Purchase and Contribution Agreement”) to sell 11 LNG infrastructure vessels owned by NFE to a newly formed joint venture (the “JV” or the “Platform”) between funds managed by Apollo and NFE in a transaction valued at approximately $2 billion. The JV will be owned approximately 80% by Apollo funds and 20% by NFE.

This transaction will create a global marine infrastructure platform underpinned by long-term contracts, benefitting from NFE’s LNG downstream operations and development activities, as well as Apollo’s leading investment and maritime experience. The Platform provides critical infrastructure for the delivery, storage, and regasification of liquefied natural gas (“LNG”) to power countries around the world, which can reduce their reliance on oil and coal to lower carbon emissions while enabling potentially substantial cost savings. In addition to serving NFE’s projects globally, the Platform also serves a diversified customer base of utilities and energy companies worldwide under third-party charters.

The 11-vessel portfolio consists of 6 Floating Storage and Regasification Units (“FSRUs”), 2 LNG Carriers (“LNGCs”), and 3 Floating Storage Units (“FSUs”). The total implied enterprise value of the transaction is approximately $2 billion, and NFE will receive approximately $1.1 billion in proceeds after accounting for NFE’s share of the JV and paydown of existing debt.

As part of the transaction, NFE has agreed to charter 10 of the 11 of the vessels from the Platform for a period of up to 20 years commencing either upon close of the transaction or upon expiration of the vessels’ existing third-party charter agreements. The Platform will also seek growth opportunities in support of both NFE and third parties to support the energy transition and bolster energy security globally.

“Together with Apollo, we are creating a leading LNG marine infrastructure platform to help accelerate the energy transition while freeing up capital to continue to invest into our Fast LNG and downstream LNG projects worldwide,” said Wes Edens, Chairman and CEO of New Fortress Energy. “We are pleased to be partnering with Apollo in creating a maritime infrastructure company that will help support NFE’s growing LNG infrastructure needs going forward.”

Apollo Partner Brad Fierstein said, “Energy transition and energy reliability are global priorities and core to Apollo’s sustainable investing platform. We’re pleased to further these initiatives through this long-term investment alongside our JV partners at New Fortress Energy. This is a high-quality portfolio that increases energy security around the world, accelerates decarbonization efforts, and facilitates LNG use which is cleaner and more affordable than diesel. We look forward to investing behind the platform’s growth to drive a more sustainable future.”

Subject to satisfying customary closing conditions, including receipt of certain regulatory approvals and third-party consents, closing of the transaction is expected to occur in Q3 of 2022. Transaction proceeds are expected to be utilized to fund NFE’s FLNG projects, as well as for ongoing downstream infrastructure and general corporate purposes.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: the successful completion of the sale and purchase of the vessels and creation of the JV; total implied enterprise value; projected proceeds and the ability of NFE to redeploy the proceeds from the transaction; cashflow expectations for the vessels; the chartering of certain vessels to NFE; the strategy and ability of the JV business platform to support its goals in providing reliable, cleaner and more affordable energy to support transition, reduce reliance by countries on oil and coal, reducing carbon emissions and attaining cost savings; benefits to be derived from experience from the partners of the JV; anticipated growth strategy; the ability of NFE’s investment into its FLNG Units; the success of the partnership between NFE and Apollo; satisfaction of the closing conditions in the Purchase and Contribution Agreement in accordance with the terms thereof and within the required dates; and the expected structure and date of closing of the transaction. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the parties to the Purchase and Contribution Agreement or the stock prices of such parties.

These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; common risks related to the sale and purchase of businesses or assets, including among others the risk of valuation and successful implementation, and the risk that we may not be able to realize the benefits of any such transactions; the ability of the JV to implement its business platform and to realize anticipated efficiencies and benefits; common risks related to joint ventures, including the timing and amount of commitments or obligations to fund operating and/or capital expenditures, nonperformance by joint venture, limited or no control over the management, business or operations of the joint venture, and subordination of claims of creditors in the event of a liquidation or reorganization; possibility that any or all of the various conditions to the consummation of the transaction may not be satisfied or waived (or any conditions, limitations or restrictions placed on such approvals); the receipt, on a timely basis or otherwise, of the required approvals and consents for the transaction; breach or failure by the parties to comply with the covenants and obligations under the Purchase and Contribution Agreement; nonpayment or nonperformance by any of NFE’s or the JV’s customers or suppliers; including among others nonpayment or nonperformance by any of parties to the charters; the effect of the announcement or pendency of the transactions on our operations, including the ability of NFE to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom NFE does business; the ability of the parties to implement their respective plans, forecasts and other expectations with respect to NFE’s and the JV’s businesses after the completion of the proposed transactions; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; volatility in the price or demand of LNG products; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.

Contacts

For New Fortress Energy:
Investors:
Brett Magill
ir@newfortressenergy.com

Media:
Jake Suski
(516) 268-7403
press@newfortressenergy.com

For Apollo:
Noah Gunn
Global Head of Investor Relations
212-822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
212-822-0491
Communications@apollo.com

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NPM Capital sells Groendus to consortium of APG and OMERS Infrastructure

NPM Capital

Investment company NPM Capital has decided to sell Groendus, the sustainable energy business, to a consortium of APG and OMERS Infrastructure. Groendus was formed in March 2021 as a consolidation of six companies active in solar power, (smart) metering and energy services. Groendus serves its clients with an integrated proposition that facilitates the shift toward 100% sustainable energy, and thereby accelerates the transition to a sustainable energy system. The financial details of the agreement were not disclosed.

Starting in 2019, several companies active in sustainable energy were acquired by NPM with the goal of developing a combined green energy proposition. This group of companies was integrated in 2021 and continued under the name Groendus. Groendus now employs 130 people at its headquarters in Utrecht and has grown into a leading player in sustainable energy, counting more than 4,000 businesses, municipalities, and institutions among its clients. Put together, these clients represent more than 170 MWp of installed capacity for solar power generation, more than 42,000 connections to the Mijn.Groendus platform for insight in energy use and savings potential, and more than 12,000 smart meters for larger electricity users. In addition, over 250 business locations now have direct access to sustainably produced energy through the Groendus Energy Marketplace – without the involvement of traditional energy suppliers. The current management team of Groendus, led by CEO René Raaijmakers, remains in place.

René Raaijmakers, Groendus CEO, said: “We are very grateful to NPM Capital and to our Supervisory Board for their support and confidence over the past years. Their invaluable contribution has helped Groendus become what it is today. Through our sustainable energy sources, the insights we provide through our smart energy platform and through our unique Energy Marketplace, we can make a significant contribution to the sustainable energy transition alongside our clients. We have grown into a solid business with a clear mission and vision, and we are well-equipped to leverage our platform to realise further growth. We are very happy that NPM Capital has facilitated the acquisition of Groendus by APG & OMERS Infrastructure. This heralds a new era for Groendus. The investment power and long-term vision of these pension funds will enable us to intensify and accelerate our efforts to further expand our services to our clients.”

Jeroen de Haas, chairman of the Supervisory Board of Groendus and advisor to NPM on the investment theme Sustainable Future, said: “The current energy system is going through a massive overhaul. That transformation is not only about green energy production through wind and solar sources, but it also covers power storage and smart connectivity to monitor and manage the market’s power consumption. For clients, this new sustainable energy grid is associated with additional complexity, and the market is in dire need of a partner who can help clients seize opportunities and make the transition to 100% sustainable energy. I am proud that we were able to build up that partner for sustainable energy over the past three years, together with the Groendus management and NPM. It is encouraging to see that with this transaction, APG and OMERS are demonstrating their confidence in Groendus’ significant further growth potential.”

Leonard van Loon, Investment Director of NPM Capital, said: “We are parting sooner than expected, but we are proud of what Groendus has achieved since we started with a number of acquisitions in large-scale solar projects three years ago. It has been a pleasure to work with Jeroen de Haas and the Groendus management. We built a broad market proposition together, resulting in a leading innovative company in the sustainable energy industry. For NPM, this investment was an extension of our strategic investment theme Sustainable Future. Through our investments within this theme, we aim to make an active and relevant impact on sustainability. We thank René Raaijmakers (CEO) and Daan Bouwman (CFO) for their incredible commitment to making this effort a successful one. With the consortium of APG and OMERS Infrastructure, Groendus will have a solid and ambitious new shareholder and a healthy foundation for further growth. We wish the new owners and all the people at Groendus every success.”

Contact

Breitnerstraat 1
1077 BL Amsterdam (NL)

Poortakkerstraat 93
9051 Gent (BE)

T: +31205705555
E: info@npm-capital.com

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Solar energy startup Solnet Green Energy secures EUR 15 million in growth funding

Tesi

Solnet Green Energy, a provider of smart solar energy installations and support services for business and industrial use, has secured EUR 15 million in growth funding. The company will use the funds to expand its operations in both domestic and especially in the more rapidly growing European markets.

The smartness of Solnet’s installations comprises sensors, protective layers and automatics as well as optimisation, management and surveillance features provided as cloud services.

”Our investment in Solnet promotes both Tesi’s ‘Renewable energy and energy efficiency’ impact theme as well as sustainable development goals. It also supports the pursuit for carbon neutrality and energy self-sufficiency in Finland and Europe. We want to be on board in further accelerating Solnet’s strong growth and internationalisation in the European key markets,” says Heli Kerminen, Investment Director at Tesi.

The round was led by Elite Alfred Berg Private Equity (EAB PE). Tesi made its initial investment in the company, founded in 2014.

Read more:

Additional information: 

Heli Kerminen, Investment Director
heli.kerminen@tesi.fi
+358 40 077 2833

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII 

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Eurazeo steps up its sustainable infrastructure investments

Eurazeo

Eurazeo is delighted to announce its investment in Electra, a French company specialising in fast charging for electric vehicle (EVs). Electra is the third investment made by Eurazeo’s infrastructure strategy, after Ikaros Solar (Belgian provider of photovoltaic solutions) and Resource (Danish plastic waste sorting facility). Electra is fully aligned with the Group’s ambition to invest in energy and digital transition infrastructure and contribute to a low-carbon economy. This investment will support the decarbonisation of the transport sector, avoiding CO2 emissions by 550,000 tons by 2026 and therefore contributing to Eurazeo’s carbon-neutrality objective.

Eurazeo led a €160 million fundraising round that included several other top-tier investors: RGREEN Invest, RIVE Private Investment, Serena, Groupe Chopard, SNCF (574 Invest) and RATP Group. It provides Electra with the required funding to support its rapid growth and achieve its objective: to accelerate its coverage of France and expand in Europe to provide fast charging solutions. Electra is the only fast charging specialist in France and will now have the means to compete with major European players.

The quality of its offering is underpinned by agreements signed with blue-chip partners from the retail, hotel, automotive and fleet management industries, such as AccorInvest, Altarea, Indigo, Louvre Hotels Group, Primonial REIM France and Groupe Chopard.

With the support of its new investors, Electra intends to play a leading role in increasing EV penetration in France and Europe. The company offers high-quality infrastructure supported by both its technological expertise and its roll-out experience.

Aurélien de Meaux, Electra’s CEO, said:

“This capital raise led by Eurazeo and backed by other blue-chip investors – RGREEN Invest, RIVE Private Investment, Serena, Groupe Chopard, SNCF (574 Invest) and RATP Group – will enable us to roll out our EV charging solution on a large-scale basis. Our main objective is to propose to end users a top-notch charging experience, combining the best infrastructure with state-of-the-art digital tools. In order to support EV penetration we must offer innovative solutions improving the customer experience. In addition, Electra’s team and I are proud and happy to support the transition to a low carbon economy.”

Melissa Cohen, Managing Director, Infrastructure, Eurazeo, added:

“We are thrilled to become a cornerstone investor in Electra, which is developing a public electric vehicle fast charging network. Electra will contribute by helping to remove barriers to the adoption of electric vehicles, building high-quality and efficient infrastructure, available to all. We have been impressed by Electra’s achievements so far. Its large and experienced team of EV charging experts and its differentiated product offering (hardware and software) allow for a smooth and efficient customer experience. The electrification of transport is a key pillar of the transition to Net-Zero, which is fully in line with our ESG and sustainability focus.”

About Eurazeo

  • Eurazeo is a leading global investment company, with a diversified portfolio of €32 billion in assets under management, including nearly €23.2 billion from third parties, invested in 530 companies. With its considerable private equity, venture capital, private debt as well as real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 360 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
  • Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo.
  • Eurazeo is listed on Euronext Paris.
  • ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACT

Pierre BERNARDIN

DIR. RELATIONS INVESTISSEURS

+33 (0) 1 44 15 16 76

Virginie CHRISTNACHT

DIRECTRICE DE LA COMMUNICATION

+33 (0) 1 44 15 76 44

PRESS CONTACT

David Sturken

MAITLAND/AMO

+44 (0) 7990 595 913

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DIF Capital Partners joins forces with Virya Energy to acquire a strategic position in Dutch green hydrogen developer VoltH2

DIF

DIF Capital Partners (“DIF”), through DIF Infrastructure VI, has acquired an interest in green hydrogen production facilities developer VoltH2 (the “Company”). DIF entered into a strategic partnership with Virya Energy, a leading Belgian renewable energy company, in acquiring a majority stake in the Company, with VoltH2’s founder André Jurres, retaining a meaningful share as well.

The Netherlands based VoltH2 holds permits and secured land plots for two production sites in Vlissingen and Terneuzen, with advanced planning underway for an additional site in Delfzijl as well as a number of early phase development positions. The three most advanced facilities have a capacity of initially 75 MW which can be scaled up to 250 MW. DIF’s and Virya’s involvement enables VoltH2 to realise its first green hydrogen production facilities in the near future and further expand the pipeline.

André Jurres, Managing Director of VoltH2: “This investment attests to the confidence in green hydrogen and in the growth of VoltH2. With the involvement of DIF Capital Partners and Virya Energy, we can anchor VoltH2 locally as well as internationally, achieve our ambitions and play a crucial role in the European energy market and energy transition.”

Gijs Voskuyl, Partner at DIF Capital Partners, adds: “We expect a significant demand increase for green hydrogen in the short and medium term. As an investor with a strong footprint and ongoing focus within the energy transition space, we aim to play a role in this fast growing and capital intensive market and believe VoltH2 as well as Virya Energy are excellent partners to realise these ambitions.”

About VoltH2

VoltH2 focuses on the design, development, construction and operation of green hydrogen facilities in Europe. The first two production facilities are currently being developed in Vlissingen and Terneuzen (the Netherlands). Both are expected to be operational in 2025. At start-up, each facility will produce nearly 2 million kg (1,890 tonnes) of green hydrogen per year. In time, this production will grow with the hydrogen market and will be scaled up. Because of its strategic location within North Sea Port, the end product will be transportable by road, rail and waterways. Local industry will be able to purchase green hydrogen in order to meet its environmental objectives. Recently, the project for a third green hydrogen facility was started in Delfzijl (within Groningen Seaports). VoltH2 is a collaboration between Volt Energy (the company of founder André Jurres), Virya Energy and DIF Capital Partners. www.volth2.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

About Virya Energy

Virya Energy was founded in late 2019 by Colruyt Group and Korys. The energy holding company has shares in Parkwind, Eurowatt, Eoly Energy, Sanchore and recently also in VoltH2.

Virya Energy focuses on the development, financing, construction, exploitation and storage of renewable energy. All of these companies possess a wealth of complementary expertise. By sharing knowledge and enabling them to work together, Virya Energy aims to create economies of scale and take a leading role in the rapidly evolving renewable energy sector. Virya Energy and its subsidiaries worldwide have a capacity of 1 GW of green energy. This includes onshore and offshore wind power and a number of initiatives for green hydrogen such as Hyoffwind.

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Tesi exits battery diagnostics startup Akkurate

Tesi

The global metal and mining corporation Sandvik acquires Akkurate, a Finnish startup developing analytics software for batteries.

With the transaction and the know-how Akkurate brings with it, Sandvik will advance the electrification of its operations.

Tesi’s investment in Akkurate was made from the Venture Bridge special investment programme that was established to mitigate the negative effects of the corona pandemic and closed for initial investments at the end of March 2022.

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Additional information:
Samppa Sirviö, Investment Manager, Venture Capital Investments
samppa.sirvio@tesi.fi
+358 50 518 6063

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII

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Altor invests in smart energy platform Tibber

Altor

Altor Fund V (“Altor”) has signed an agreement to acquire a minority stake in Tibber, the Norwegian smart energy provider and platform. The investment in Tibber has been done through acquisitions from existing shareholders, on the back of Tibber’s $100M Series C round in March 2022.

Since its inception in 2016, Tibber has been on a journey to assist consumers in lowering their energy bills, making more intelligent decisions around their electricity consumption, and empowering them to use energy smarter. At the beginning of the year Tibber had reached over 400,000 household customers in Norway, Sweden, and Germany and is looking to expand further within Europe.

As the hub in a smart home, Tibber connects independent and sustainable energy sources, such as solar photovoltaic (PV) cells, with smart hardware such as electric vehicle (EV) chargers, batteries, and heat pumps to make electricity production and consumption smarter, in addition to providing load balancing to the grid.

The investment fits Altor’s broader involvement in the green transition, with recent investments including Vianode and Svea Solar. Altor will support Tibber on its journey to become the leading home energy platform.

Herman Korsgaard, Director at Altor, commented:

“Tibber is a unique and rapidly growing company in the consumer-enabled green transition space. We are incredibly impressed by the position and platform the founders have created and are convinced Tibber will play an increasingly important role in providing renewable energy and smart solutions for households across Europe.”

For more information, please contact:
Herman Korsgaard at Altor, herman.korsgaard@altor.com, +47 934 00 332

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 85 companies. The investments have been made in medium-sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are OX2, Vianode, Svea Solar, and Nordic Climate Group. For more information visit www.altor.com

About Tibber
Tibber is the smart digital energy provider founded in 2016 by the Norwegian Edgeir Vårdal Aksnes and the Swede Daniel Lindén.

The Tibber app replaces traditional utilities with a digital energy deal and technology for smarter consumption of energy. Tibber’s vision is to make sustainable energy consumption simple and affordable for all households, and their mission is to reduce the residential energy consumption for European households by 20 %.

This is made possible through their app that provides consumers with real-time analytics into energy usage, and that can be paired with a large variety of smart home devices to reduce energy consumption at home. For more information visit www.tibber.com

Author: Katarina Karlsson
Date: 2022.06.21
Categories: News

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Åndberg wind farm launches commercial operations

Ardian

Ardian has built a state-of-the-art wind farm in Härjedalen, Sweden, using the latest available technology.
The 53-turbine project is now taken into commercial operation and supplies 286 MW of green energy to the grid.
The wind farm will generate 800GWh of green energy per year, corresponding to 156Kton of avoided C02 emissions of fossil electricity generation.
Åndberg Wind Farm is the cornerstone asset of Ardian’s sustainable energy platform in the Nordics

Ardian, a world leading private investment house, today announces that the Åndberg wind farm in Härjedalen, Sweden, is now in commercial operation. Ardian acquired the development rights of the project from OX2, a Nordic renewable energy developer in 2019. OX2 and its subcontractors have undertaken the construction works which were completed this spring. The wind farm will generate over 800GWh green energy per year which equates to the electricity use of 160,000 households or 156 kton avoided C02 emissions of fossil electricity generation.

The 53-turbine wind farm is the second largest in Sweden coming into operation this year. The wind farm was built without subsidies and will help improve the energy security of Europeans.

Ardian has been supported by its partner Enordic throughout the construction period, and expects Enordic to add significant value during the operations phase too. Enordic is a growing team of seasoned industry professionals, with diverse expertise in investment, construction and O&M, energy risk management as well as project finance. Enordic provides Ardian with their deep industrial knowledge and local connections, which bolsters Ardian’s hands-on asset management approach.

In particular, Ardian looks to deploy its best-in-class renewables digital systems to optimize the operations of Åndberg Wind Farm. Ardian has implemented a future-proof end-to-end renewable energy monitoring online platform that enables it to monitor technical and market risk. This is a major building block of Ardian’s strategy to create value in renewables and bring down the cost of renewable energy globally.

The wind farm entered into a 10-year green power purchase agreement (PPA) with Skellefteå Kraft, one of Sweden’s largest energy producers, in October 2019. Additionally, project financing was secured with KfW IPEX-Bank in September 2020, based on the quality and long-term resilience of project Åndberg.

The Åndberg platform has grown recently with the acquisition of assets in Finland, both operating and in development stage. With Åndberg Wind Farm now in operation, the Ardian and Enordic teams will look for opportunities to further expand the portfolio.

“We are investing into the energy transition with the objective of delivering a positive impact for all stakeholders. Åndberg Wind Farm is an excellent example of cutting-edge technology that will further contribute drive de-carbonization of the energy system in the Nordic countries.” Simo Santavirta, Head of Asset Management in the Infrastructure team at Ardian

“Åndberg Wind Farm project demonstrates the break-through of green energy technology in big scale. In addition, Åndberg Wind Farm project will give back annually a percentage of its revenue to the Lillhärdal-community. The use of the contribution will be decided by a local board.” Thomas Linnard, Director of the Enordic Renewable Energy Platform

“We have been looking forward to start the operation of Åndberg Wind Farm to help enabling the transformation of the Nordic energy sector which is the essence of our ambition.” Eero Auranne, CEO of the Enordic

ABOUT ENORDIC

Enordic was established by Eero Auranne and Thomas Linnard, two experienced industry professionals, in 2019 in partnership with Ardian. It develops and invests in sustainable energy with a focus in the Nordic and Baltic countries. The goal is to deploy 3 billion euros into sustainable energy investments. Enordic’s portfolio comprises currently of four wind parks in Sweden, Finland and Norway with a total capacity of over 400 MW as well as a Nordic advanced utility infrastructure company Nevel supplying 1,600 GWh heat from renewable sources to its clients. The company employs 7 professionals.

www.enordic.fi

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $130bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

Media Contacts

HEADLAND

ardian@headlandconsultancy.com

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