DIF Capital Partners acquires a 117MW wind project in Uruguay

DIF

DIF Capital Partners (“DIF”) and Enercon GmbH (“ENERCON”) are pleased to announce that DIF, through its DIF Infrastructure Fund VI, has acquired 100% of the ownership of the 117MW Peralta I/II onshore wind projects in Uruguay.

The project, comprising 50 ENERCON E-92 2.35MW turbines, has been operational since October 2015 and benefits from a 20-year 100MW power purchase agreement with UTE, Uruguay’s state-owned utility. The project will continue to be maintained by ENERCON under a long-term agreement and asset management services will continue to be delivered by SEG-Heliotec. Following the acquisition of the 50MW Cerro Grande project in 2019, this is the second Uruguayan ENERCON project that DIF has acquired.

Christopher Mansfield, Partner and Head of Renewable Energy, said: “We are very pleased to have acquired our second renewable energy project in South America, which is the result of our strong relationship with ENERCON. We believe this investment is attractive for DIF’s investors due to the long-term project agreements that provide a high degree of predictability of future cash flows.”

DIF has been advised by Voltiq (transaction), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV (technical) and Mazars (financial and tax & accounting). ENERCON was advised by FICUS Advisory.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

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

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu.

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

 

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DIF Capital Partners sells portfolio of wind and solar projects in France and Germany

DIF

DIF Capital Partners, through its DIF Infrastructure Yield I fund (“DIF Yield”), is pleased to announce the sale of a renewable energy portfolio, totalling 180MW, to Kallista Energy, a French independent producer of renewable energy.

The sold portfolio comprises 15 wind and solar parks, of which five operational wind parks and three solar parks (total of 90.2 MW) are located in France and seven operational wind parks in Germany (89.5 MW).

Christopher Mansfield, Head of Renewable Energy, said: “This transaction represents a good result for DIF Yield and we believe that Kallista Energy is well placed to further optimise the residual value of this renewable energy portfolio. DIF Capital Partners will continue to manage the West European PPP/PFI and operational solar PV portfolios that remain in DIF Yield.”

DIF Capital Partners was advised by Augusta & Co (transactional) and Watson Farley & Williams (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

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

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu.

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

 

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DIF Capital Partners and OX2 sign 63 MW wind power deal

DIF

DIF Capital Partners (“DIF”) and OX2 AB (“OX2”) are pleased to announce that DIF, through DIF Infrastructure Fund VI, will acquire 100% of two onshore wind projects in the Podlaskie and Łódź regions of Poland, with a total capacity of 63 MW. As the projects are ready to build, DIF will invest through the construction of the projects.

The wind projects, which will be equipped with Vestas V126 turbines, have been developed and will be constructed under a tailored EPC contract by OX2. Construction commenced upon closing of the transaction and the projects are expected to become operational by end of 2022. Once commissioned, OX2 will be responsible for the technical and commercial management of the projects, which benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.

The total production is estimated to be c. 200 GWh per year, which is the equivalent to the annual power consumption of around 50,000 households; thereby avoiding around c. 70,000 tonnes of CO2 emissions per year from fossil fuels. The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.

Christopher Mansfield, Partner at DIF Capital Partners, said: “DIF is delighted to enter the Polish renewables market through this new partnership with OX2 and to support Poland’s ongoing energy transition. The projects fit well within the investment strategy of DIF Infrastructure Fund VI and adds to the track record of DIF-managed funds, which have invested in c. 2.3GW of wind and solar power projects in Europe, North and South America and Australia.

Paul Stormoen, CEO, OX2, said: “I am very happy to welcome DIF Capital Partners as a new partner with its extensive experience from long-term investments in renewable energy projects. Our partnership is a significant step in OX2’s ongoing expansion in Poland. It more than quadruples the amount of green energy that will be produced from the wind farms in Poland built by OX2.”

DIF was advised by PWC (financial), Allen & Overy (legal) and DNV (technical). OX2 was advised by DNB Markets (financial) and DLA Piper (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

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

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

About OX2

OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 15 years, having developed and constructed more than 2.4 GW of wind power in Europe. OX2 currently has contracted asset management services for 44 wind farms 2.25 GW). OX2’s mission is to lead the ongoing energy transition and promote a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is in Stockholm, Sweden. Sales revenue in 2020 amounted to €510 million. For more information, please visit: http://www.ox2.com.

For further questions, please contact:

DIF Capital Partners
Allard Ruijs, Partner
a.ruijs@dif.eu

OX2 Poland
Katarzyna Suchcicka
Country Manager
katarzyna.suchcicka@ox2.com
Mobile: +48 507 701 903

OX2 Group
Head of Communications
Mikael Östlund
mikael.ostlund@ox2.com
Phone: +46 709 100 159

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Aibel awarded an additional offshore wind contract

Ratos

Aibel has again been awarded an offshore wind contract by the SSE Renewables and Equinor consortium, developing the world’s largest offshore wind farm in the Dogger Bank area in the UK part of the North Sea.

Aibel is to provide the converter platform for the power transmission from the offshore wind farm to the shore. This in connection with the construction of the third phase of the Dogger Bank wind farm, Dogger Bank C. In 2019, Aibel was awarded a contract for two transformation platforms for the first phases of the project, Dogger Bank A and Dogger Bank B.

The offshore wind farm in the Dogger Bank area will have a combined capacity of 3.6 GW, making Dogger Bank the largest offshore wind farm in the world, and are expected to produce enough energy to power the equivalent of 6 million UK homes.

In May 2019, Aibel was awarded a similar contract (DolWin5) for the connection of the offshore wind farm Borkum Riffgrund 3, with the German network operator TenneT as customer. Renewable energy projects form an increasing part of Aibel’s project portfolio.

“With this contract, we once again confirm our position as a preferred supplier in the European offshore wind segment and strengthen our role in the ongoing energy industry transformation,” says Aibel’s President and CEO, Mads Andersen.

“It is gratifying to note how well Aibel has succeeded in positioning itself as a preferred supplier in offshore wind segment and gradually increases its exposure to renewable energy,” says Christian Johansson Gebauer, Head of Business Area Construction & Services at Ratos.

Dogger Bank A will be put into operation in 2023, while Dogger Bank B is planned for 2024 and Dogger Bank C in 2025.

Read more about the project here: www.doggerbank.com

 

For further information:
Helene Gustafsson, Head of IR and Press
Phone: +46 70 868 40 50
helene.gustafsson@ratos.com

Christian Johansson Gebauer, Head of Construction & Services
Phone: +46 8 700 17 00

 

About Ratos:
Ratos is a business group consisting of 11 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 33 billion in sales and EBITA of SEK 2 billion. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent 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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Vow ASA and Betula Energy aim for biocarbon production in Bamble in Norway

Reiten

Vow and Betula Energy have entered into an agreement whereby Vow will supply technology and equipment to produce biocarbon to a new plant that Betula Energy will establish in Bamble, a municipality in South-East Norway. At this location, Betula Energy, which is the new name of former entity BioGren AS, will establish bioenergy and biocarbon production from forest wood mass in the form of pellets, biocarbon and bio-oils.

Demand for biocarbon in the Nordic region is expected to increase significantly in the next few years. Large, international industrial groups are undergoing a significant green transformation to achieve their goals of significant reductions in the use of fossil coal by 2030. Biocarbon has qualities that enable it to replace fossil coal as a reducing agent in the metallurgical industry.

Technology and solutions from Vow will play a key role in this change. We are in the process of showing not only the Norwegian, but also the international industry, that we have technological solutions that accelerate the green energy transition,” says Henrik Badin, CEO of Vow ASA.

The plant in Bamble will be the second in Norway where Vow’s technology is used in this way. At Follum near Hønefoss, Vow’s wholly owned subsidiary Vow Industries plans to build a similar plant. Here, wood waste from the forest industry and recycled wood from the construction industry will be converted into CO2-neutral energy in the form of biocarbon for the metallurgical industry, gas for district heating, and bio-oils for the petrochemical industry, Badin continues.

Synergies in the production of bioenergy are important

Betula Energy will produce homogeneous wood particles as a raw material and feedstock for one production line for biocarbon for the metallurgical industry, and one production line for wood pellets as a replacement for fossil coal in thermal power plants. With such configuration, synergies can be achieved by using the syngas from biocarbon production to dry wood particles for both production lines. Betula Energy will handle reception, cutting, drying, and pelleting for both production lines. This provides economies of scale.

At the Betula Energy’s facility, detailed control of production is planned through all stages to ensure the desired and consistent quality of the products. The choice of Vow’s technology is consistent with this principle and will ensure the quality of the biocarbon produced, says Gisle Hegstad, general manager of Betula Energy.

Vow will supply the process equipment for the biocarbon production, and orders will be placed by Betula Energy once they have secured financing planned within 2021. For Vow, this order may result in the delivery of process equipment worth up to NOK 200 million.

Market with great potential

Today, the metallurgical industry in Norway consumes annually close to one million tonnes of fossil based reducing agents. This corresponds to around seven percent of the nation’s CO2 emissions. In the Nordic countries, this consumption is four-five times greater.

The market for biocarbon is already large and growing. The first construction phase for Betula Energy will be able to produce 15,000 tonnes of green and climate-neutral biocarbon, and corresponding volumes of bio-oils.

ow ASA

 

Giving waste value and enabler of a circular economy

Vow’s world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries. Cruise ships on every ocean have Vow’s technology inside which processes waste and purifies wastewater. Fish farmers are adopting similar solutions, and public utilities and industries use the company’s solutions for sludge processing, waste management and biogas production on land. Vow’s ambitions go further than this. With their advanced technologies and solutions, they turn waste into biogenetic fuels to help decarbonize industry and convert plastic waste into fuel, clean energy and high-value pyro carbon.

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Battery Tech Innovator E-Magy Raises € 5 Million In Funding Round Led By SHIFT Invest

Shift Invest

The funds will be used to scale the production of E-magy’s proprietary nano-porous silicon and to accelerate qualification programs with electric vehicle (EV) and battery manufacturers. E-magy will expand the team and prepare for the construction of a new facility in the Netherlands with production planned for 2023. The use of E-magy’s specialty silicon in EV battery anodes increases energy density of battery cells by 40%, enabling longer-range EVs and lower-cost compact cars.

Dutch battery tech scale-up E-magy has secured an additional € 5 million of funding. SHIFT Invest, an impact venture capital fund that invests in circular technologies, smart food & ag-tech, bio-based innovations and smart materials, has led the funding round with participation of existing investors including PDENH. The Dutch Ministry of Economic Affairs and Climate Policy has committed an innovation credit to accelerate the development of E-magy’s unique technology.

Battery Tech Innovator E-Magy Raises € 5 Million In Funding Round Led By SHIFT Invest

The fresh capital injection enables E-magy to increase production at its fully operational pilot production line for nano-porous silicon and accelerate qualification programs with automakers and battery manufacturers. The company will also use the funds to expand the team and make preparations for a new facility in the Netherlands which will boost annual capacity to thousands of tons per year. E-magy plans to start production at the new facility in 2023.

Casper Peeters, co-founder and CEO: “The additional funding comes at an exciting time when we are scaling up production capacity of our proprietary nano-porous silicon and are advancing with automakers and battery manufacturers to improve battery cell performance. Nano-porous silicon is the solution to the urgent need for high-energy batteries, enabling affordable and efficient electric vehicles for everybody. E-magy is set to power millions of electric vehicles.”

Bram Ledeboer, partner at SHIFT Invest: “We are pleased to support the E-magy team to become a leading supplier to the EV battery industry. Innovation plays a crucial role in rebalancing the world we live in and E-magy is well positioned to create significant impact by boosting the performance of batteries at lower costs.”

The technology

E-magy processes silicon in a unique, cost-effective and scalable way to make ‘nano-sponge’ particles which form the basis of non-swelling, high-capacity silicon anodes of lithium-ion batteries. E-magy’s nano-porous silicon improves the energy density and shortens the charge time of batteries allowing for an extended range at lower costs and leading to more compact models than today’s high-end vehicles. Silicon is abundantly available and environmentally benign.

The opportunity

As almost all global automakers focus on the production of new series of all-electric and plug-in EVs, the demand for batteries is rising exponentially. E-magy offers a highly scalable, next generation battery material that can provide automakers with a clear competitive edge. Moreover, E-magy’s technology platform allows for use in various other devices such as e-bikes and scooters, drones, computers and handheld devices, medical devices and electric energy storage systems for balancing of (renewable) energy supply and demand.


About E-magy
E-magy (www.e-magy.com) designs and manufactures nano-porous silicon material for advanced lithium-ion batteries. E-magy works with partners throughout the global automotive supply chain. The people behind E-magy have 20+ years of silicon crystallisation experience and are based in Broek op Langedijk, The Netherlands. E-magy empowers tomorrow’s batteries today.

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Ardian and Global Infrastructure Partners support a friendly and concerted solution to strengthen two French champions of environmental services

Ardian

17 January 2021 Infrastructure France, Paris

Paris, January 17, 2021 – Investment companies Ardian and GIP, experts in the infrastructure sector, today submitted a letter of intent to the Suez Board of Directors.

In a friendly context between Suez and Veolia, and in the case of any event which does not dismantle Suez, the letter of intent paves the way for a global solution with various possible execution options, including an offer by investors to purchase Suez shares at a price of €18 per share, coupon attached. This proposal is subject in particular to the completion of confirmatory due diligence.

Through this letter, Ardian and GIP confirm their intention to support a quick, friendly and positive solution that strengthens the two great French champions of environmental services in the interest of all stakeholders.

 

About the partnership between Ardian and GIP

The consortium is made up of responsible investment companies that have significant financial resources, share common values, have a long-term commitment and benefit from an excellent international reputation as shareholders concerned about respecting social commitments and environmental issues.

Their respective skills are highly complementary: Ardian has a strong foothold in France, with GIP providing recognised international expertise. Together, they provide a stable shareholder base to support Suez’s development in France and abroad, with a constant concern for the public interest. Their respective teams have developed a close working relationship over several years in the context of joint investment projects.

 

About Ardian

Ardian is a French investment company and one of the world leaders in private equity with €88 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.

Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world.

Since 2005, Ardian Infrastructure has developed solid industrial expertise in the field of infrastructure (energy distribution networks, renewable energies, road and rail infrastructure, airports, social infrastructure, etc.). In 15 years, the team has made 110 investments and currently manages more than €14 billion of assets in this field.

Ardian Infrastructure’s approach is to support companies in their transformation to improve the quality of service to users by relying on innovation and the digitalisation of operations. In the environment sector, Ardian Infrastructure has, among other things, been a shareholder alongside Suez de Sita Cornwall and Sita Northumberland in the United Kingdom.

 

About GIP

Global Infrastructure Partners (GIP) is an independent fund manager specialising in infrastructure investments and one of the world leaders in this sector. Founded in 2006, with offices in New York, London, Hong Kong, Mumbai and Sydney, GIP invests in the energy, transport and environmental services sectors. The airports, ports, rail networks and power plants operated by GIP provide essential services to tens of millions of users worldwide.
GIP is controlled and ultimately owned by its employees. GIP manages more than €58 billion on behalf of more than 400 institutional investors of 41 different nationalities, including many renowned European and French institutions. There are 38 companies in GIP’s equity portfolio with a cumulative annual turnover of approximately €34 billion and which employ more than 58,000 people. GIP has invested nearly €15 billion in European companies.
GIP’s investment approach is founded on the combination of its industrial expertise and best-in-class management practices. GIP focuses its efforts on reliability, safety, quality of service, investing in growth as well as operational excellence, notably through innovation and technology. Water and environmental services are one of the pillars of GIP’s expertise.
GIP adheres to the highest standards of responsible investment and is notably a signatory of the “Principles for Responsible Investment” promoted by the United Nations and also a founding member of the “One Planet Sovereign Wealth Funds” initiative. GIP is one of the world’s largest independent investors in renewable energy and its assets generate enough green electricity to power the equivalent of several million homes.

PRESS CONTACT

HEADLAND

CHRIS SALT

csalt@headlandconsultancy.com +44 (0)77 9868 3114

TOM JAMES

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Verdane closes continuation vehicle for three Verdane Capital VIII companies

Verdane Capital

Verdane closes continuation vehicle for three Verdane Capital VIII companies

January 15, 2021 — To further enhance the value creation in its 2013-vintage fund Verdane Capital VIII K/S and an associated co-investment vehicle, Verdane Capital VIII Winds SPV K/S, Verdane has today established a new vehicle, Verdane Capital 2020. The new continuation vehicle provides additional time and capital to address further value creation opportunities in three assets, two of which have a strong sustainability angle as suppliers to the global wind turbine industry.

The companies being transferred into the new vehicle are Polytech, a global leader in lightning protection systems and leading edge protection for wind turbines; Jupiter Bach, a global leader in nacelle and spinner covers for wind turbines; and Bellman Group, a full-service provider of field-related works required for construction of crucial infrastructure and buildings. Polytech and Jupiter Bach are headquartered in Denmark, while Bellman Group is headquartered in Sweden.

 

The transaction increases the Verdane Capital VIII distributed-to-paid-in capital ratio to approximately 150%, and a number of assets still remain in the Fund following the transaction. Other successful exits from the Fund, prior to the establishment of Verdane Capital 2020, include JSB Group, Norstat, RoyalDesign and WhiteAway.

In order to adhere to industry best practice and ensure the best possible outcome for existing investors, Verdane was during the sales process open to offers from new private equity managers to manage the portfolio going forward.

Verdane was advised by investment bank Evercore’s Private Capital Advisory team, and Andulf Advokat, a boutique law firm specialising in Private Equity.

 

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Verdane’s team of 62, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe. www.verdane.com

 

Press contacts

Frida Einarson, Head of IR & Business Development
Verdane
+46 70 244 20 83
frida.einarson@verdane.com

 

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Ardian to support establishment of a new market leader for onshore wind power in Germany by EWE and the Aloys Wobben Foundation

Ardian

  • 22 December 2020 Infrastructure Germany, Frankfurt

• Transaction creates leading German producer of green electricity with more than 2.3 gigawatts of installed capacity
• EWE and the Aloys Wobben Foundation sign agreement to establish a joint venture with a planned investment volume of EUR 3.6 billion by 2030

Paris/Frankfurt/Aurich/Oldenburg, December 22, 2020 – Oldenburg-based energy service provider EWE and the Aloys Wobben Foundation, sole shareholder of Aurich-based wind turbine manufacturer ENERCON, signed today a respective shareholder and investment agreement to form a joint venture in onshore wind energy. Ardian, a world leading private investment house, has held a 26 percent stake in EWE since February 2020 and is supporting the establishment of the new company. According to the agreement, both sides will each hold 50 percent of the shares, and ENERCON and EWE will contribute their existing wind farms and onshore projects to the future joint venture. Corporate management will lie within EWE’s remit, while the Aloys Wobben Foundation will appoint the chair of the Supervisory Board. The completion of the transaction, expected in spring 2021, is still subject to approval of the German Federal Cartel Office.

The new company will have an installed capacity of more than 2,300 megawatts based on existing systems and a project pipeline of over 9,400 megawatts, making it the market leader in onshore wind activity in Germany as well as one of the largest companies in the field of wind energy in Europe. The aim is to realize an increase of more than 200 megawatts per year and to increase the existing capacity to up to 5 gigawatts by 2030. In addition, further international growth is planned. As a result, this will create one of the largest producers of green electricity in Germany and France in the coming years. Investments totaling up to EUR 3.6 billion are foreseen for the project by 2030. The company, which also owns the Düsseldorf-based direct marketer Quadra Energy, takes a manufacturer-independent approach to the realization of its projects.

Dr. Daniel Graf von der Schulenburg, Managing Director and Head of Ardian Infrastructure Germany and Northern Europe, said: “This transaction shows how we, as shareholders, support the further development and transformation of the companies in which we invest to further the vision of a new era in energy. Accelerating the growth of EWE, in particular in the field of renewable energy, is one of our common strategic goals since we took a stake in EWE one year ago. With this partnership, the company is now taking another important step in this direction in the shortest possible time, and we warmly congratulate Stefan Dohler and his team.”

Stefan Dohler, CEO of EWE AG, added: “If we are to achieve the climate targets set in the Paris Agreement, we need to act quickly and, above all, decisively. This requires strong market participants, who are of critical size, to make a difference. We are now forming such a company with the new joint venture. With Ardian, we feel fortunate to have a shareholder who supports this goal. “

Ardian Infrastructure is a pioneer in renewable energy investments in Europe and America with a total capacity of around 5 gigawatts (GW) in the wind, solar and biomass sectors.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$103bn 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 700 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.

 

ABOUT EWE

EWE is an innovative service provider active in the business areas of energy, telecommunications and information technology. With over 8,800 employees and sales of around EUR 5.7 billion in 2019, EWE is one of the largest utility companies in Germany. The company, based in Oldenburg, Lower Saxony, is primarily owned by the local government. It provides electricity to around 1.4 million customers in northwest Germany, Brandenburg and on the island of Rügen, as well as parts of Poland, and supplies natural gas to almost 0.7 million customers. It also provides approximately 0.7 million customers with telecommunications services. To achieve this, the various companies in the EWE Group operate around 210,000 kilometres of electricity grid, natural gas grid and telecommunications networks. To provide comprehensive fibre-optic expansion in the region, EWE and Telekom Deutschland founded the company Glasfaser Nordwest, which will invest EUR 2 billion in fibre-optic expansion in the northwest over the next ten years.

 

ABOUT THE ALOYS WOBBEN FOUNDATION

As the sole shareholder, the Aloys Wobben Foundation (AWS) is responsible for the long-term continuity and success of the ENERCON Group. Established in October 2012, its central purpose is to preserve the legacy of ENERCON founder Dr Aloys Wobben and to maintain the independence of the company. For health reasons, Dr Aloys Wobben retired from active participation in the business in 2012 and transferred his assets to the family foundation.
An additional purpose of the foundation is the support of defined charitable goals and to contribute to the preservation of creation in keeping with the founder’s intentions. Dr Aloys Wobben always saw this as his task. These goals focus on supporting research and education, especially in the energy sector; subsidising social and humanitarian purposes; supporting protective and developmental facilities for children; and subsidising cultural purposes.
The foundation’s Board of Management and Advisory Board form the AWS foundation’s bodies which are headquartered in Aurich, Lower Saxony. The Management Board directs and manages the foundation in compliance with statutory regulations and its articles of association. It is represented by Chief Executive Officer Heiko Janssen and Joachim Röer as a member of the Board of Management. The Advisory Board currently consists of four members. It appoints the Management Board, monitors its activities and provides advice on strategic matters.

PRESS CONTACTS

CHARLES BARKER CORPORATE COMMUNICATIONS

PETER STEINER

ardian@charlesbarker.de Tel: +49 69 79409027

JAN P. SEFRIN

ardian@charlesbarker.de Tel: +49 69 79409026

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FSN Capital has signed an agreement to invest in Obton Group

Fsn Capital

FSN Capital has signed an agreement to acquire a 45% stake in Obton Group and enter into a partnership with the founders and management. Obton Group is a specialized alternative investment provider developing, structuring, and managing solar photovoltaic “solar PV” projects on-behalf of ~4,000 high net worth investors.

Obton Group has grown sales / EBIT at 35% / 45% CAGR respectively since the company was founded in 2008, and today manages almost 1 GW of solar PV power making it the 9th largest solar PV manager in Europe. The solar PV business focuses on the entire development value chain from site selection to asset management through local operations and joint venture partners in 8 markets, and enjoys tremendous tailwind from the ongoing shift to renewable energy as the world battles global warming and climate change.

The management team and founders of Obton Group, who will remain in leading positions at the company, were looking for a partner to help accelerate growth and develop the company through its next phase. To achieve this goal, management designed a narrow one-round process with a few selected sponsors before FSN Capital was granted exclusivity. FSN Capital emerged as the preferred partner to management due to strong alignment on values, vision, and plans for the future. Throughout the partnership FSN Capital will seek to support management’s ambitious growth plans which include developing more avenues for raising capital and delivering on the existing significant solar PV pipeline.

Lars Denkov, Partner at FSN Capital Partners (investment advisor to FSN Capital) sees Obton Group as an attractive investment opportunity: “At FSN, we have a strong belief that the green transition of the energy system towards renewable energy is one of the most interesting investment themes for the coming decades. As one of the largest and most experienced developers, managers and investors in solar PV in Europe, the Obton Group is very well-positioned in this rapidly growing industry. Obton is a unique and very well-run company, which in relatively few years has succeeded in becoming one of the 10 largest administrators of solar parks in Europe. We are incredibly proud that the founders and leaders at Obton have chosen FSN Capital as their partner for the growth journey ahead, and we look forward to working with Anders Marcus and his team.”

The investment in Obton Group is in line with FSN’s strong strategic focus on ESG and its general ambition to contribute positively to the development of society. In the much-needed transition from a black to a green energy system, one of the tasks is to replace old-fashioned fossil-fired power plants with renewable energy from solar energy. As such Obton Group directly contributes to several of the United Nations Sustainable Development Goals, specifically SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action). Obton Group is similar to FSN Capital a signatory of the Principles for Responsible Investment.

Anders Marcus, CEO and Co-founder at Obton Group further adds: “Obton is now the 9th largest administrator of solar parks in Europe. With more than 1,000 solar projects to date, we are an experienced player in the solar power industry, which is undergoing a rapid development that looks set to continue for many years to come. This is just the beginning of the global green energy revolution, which will change the way we think about climate, energy and infrastructure. We have long had a desire to bring some stronger competencies into the company in the form of a larger investor who can contribute even more international knowledge. We now get that with FSN Capital’s entry into the company. When looking for a potential partner, FSN Capital quickly stood out due to their vision and ambition for the company as well as shared values with the Obton Group. We are both proud and happy to be able to attract such a competent investor.”

The transaction is subject to approval from relevant authorities and is expected to close in the first half of 2021.

To learn more about the company, please go to:

https://www.obton.com/
https://www.koncenton.com/

FSN Capital was advised by BCG, Plesner, PwC, Nomura Greentech, Colliers, Lincoln International, Frank Partners, White & Case and Marsh. Nordea is providing an ESG-linked financing facility in support of the company’s growth strategy. 


For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds):

Lars Denkov, Partner
ld@fsncapital.com 

Morten Welo, Partner & COO/IR
mw@fsncapital.com

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