Tag Archives: Energy

Antin to invest in Power Dot, a leading European electric vehicle charging platform

Antin

The investment, to be deployed as part of Antin’s NextGen strategy, will help power the transportation infrastructure of tomorrow, through accelerating key sustainability goals across Europe

Antin Infrastructure Partners announced today that its NextGen platform has signed with Power Dot, Arié Group and other current shareholders an investment agreement where Antin will acquire a co-controlling stake in Power Dot, a leading European owner-operator of destination and en-route electric vehicle (EV) charging infrastructure.

Founded in Portugal in 2018, Power Dot rapidly expanded into France, Belgium, Luxembourg Spain and Poland to now comprise a network of approximately 5,000 charging points[1] in high-traffic tier 1 public locations. This extensive and steadily growing network has been built through Power Dot’s commercial partnerships with large retailers, shopping centres, motorway service stations and fleet operators.

Since inception, Power Dot’s EV chargers have powered more than 26 million fully electric driven kilometers, representing the equivalent of over 4,000 tonnes of CO2 avoided, thereby furthering the EU’s overall aim of reducing greenhouse gas emissions by 90% by 2050.

Antin’s investment to be deployed within the firm’s NextGen strategy follows the recently announced investment into smart grid developer SNRG. Both investments demonstrate Antin’s commitment to building a portfolio of sustainable and scalable next generation infrastructure companies.

Antin will contribute to the growth of the already strong network of EV charging stations installed and operated by Power Dot. Antin’s team will work closely with the group’s experienced management team to assist in further expanding Power Dot’s EV charging portfolio through enhancing its footprint with existing commercial partners and by further developing Power Dot’s robust pipeline of new locations. Through its ambitious growth plans, Power Dot is well positioned to help usher in the widespread adoption of EV by providing affordable and sustainable fast charging stations in key public locations throughout Europe, thus further contributing to the decarbonisation of transport.

Luis Santiago Pinto, co-founder and CEO of Power Dot stated: “Destination charging is amongst the fastest growing segments by demand, and also one where rapid charging needs are strongest. With strong political support aiming to ban the sale of internal combustion vehicles within the EU by 2035, EVs are expected to account for approximately 50% of passenger car production by 2030. In partnership with Antin, Power Dot is poised to capitalise on these strong market tailwinds that are creating a significant EV charging market.”

Jose Sacadura, co-founder and General Manager of Power Dot, added: “Over the past few years, Power Dot has successfully rolled out its model across Europe. Given Antin’s successful track record in scaling platforms and its strong industrial approach, we have found the right partner to support us in accelerating our pan-European network expansion.”

Nicolas Mallet, NextGen Partner at Antin commented: “Power Dot is exactly the sort of company that we envision for our NextGen strategy. Antin has always been at the forefront of identifying long-term market trends and NextGen is focused on the infrastructure of tomorrow. We look forward to working with the Power Dot team to further scale the company to its full potential.”

The transaction is subject to customary approvals from competition authorities and is expected to close in late Q2 / early Q3 of 2022.

Orrick, Herrington & Sutcliffe acted as legal advisor to Antin, with UBS acting as its financial advisor. Linklaters acted as legal advisor to Power Dot and its current shareholders, with Improved CF acting as their financial advisor. EY teams assisted the parties on tax and financial aspects of the transaction.

[1] Represents both installed and under installation charging points, which together are equivalent to c. 2,250 chargers (as of 16 May 2022).

About Power Dot

Power Dot is one of the fastest-growing owner-operators of charging points for electric vehicles in Europe. Power Dot invests, installs and operates EV chargers with an innovative business model. Power Dot’s mission is to create a charging experience embedded in people’s lives by installing chargers in everyday, high-traffic locations where people naturally park their cars.

With support from the Arié Group and almost four years of operation, Power Dot has invested in hundreds of different locations and is now operating a diverse portfolio of shopping malls, large retailers, gas stations, business centers and municipalities. Power Dot operates in Portugal, Spain, France, Belgium, Luxembourg and Poland and aims to be a leader in destination charging in Europe.

 

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €22 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, telecom, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 175 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).

 

Media Contacts

Antin Infrastructure Partners

Nicolle Graugnard, Communication Director

Email: nicolle.graugnard@antin-ip.com

 

Ludmilla Binet, Head of Shareholder Relations

Email: shareholderrelations@antin-ip.com

 

Brunswick

Email: antinip@brunswickgroup.com

Tristan Roquet Montegon +33 (0) 6 37 00 52 57

Gabriel Jabès +33 (0) 6 40 87 08 14

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Heijmans Acquires Dynniq Energy

Egeria

Heijmans has acquired Dynniq Energy, strengthening its position as an integrated player in the market for the construction and maintenance of energy-related infrastructure. Dynniq Energy is a specialist in the design, construction and upgradation of high, medium and low-voltage power stations for grid managers and household energy connections.

Heijmans’ strategic growth

Energy infrastructure is one of the strategic growth pillars of Heijmans. The Netherlands is facing a major energy transition and this is accelerating the call for reinforcing its electricity grids and the construction of district heating networks. In addition to energy transport, the demand from inner-city areas for energy grid reinforcement as well as capacity expansion and availability of energy is increasing. Heijmans is already active in a multidisciplinary manner in the area of electricity transport and distribution, and thanks to the acquisition of Dynniq Energy is now in an even stronger position. The acquisition of Dynniq Energy – including approximately 100 employees and annual revenue of more than € 30 million – is a logical step in Heijmans’ strategy of accelerated growth in this market.

Heijmans will not be disclosing the financial details of the transaction. The acquisition is still subject to approval by the Dutch Consumers and Markets Authority (ACM). As soon as approval is obtained, the acquisition will be effective. Each Works Council has already given their respective approval for the agreement.

Integrated player

“Dynniq Energy’s knowledge and expertise will strengthen our position as an integrated chain partner for grid operators,” says Heijmans Infra board chairman Bart Smolders. “This acquisition puts us in an even stronger position in this growth market. We are increasing synergies with a party we already work with closely on multiple projects before today. From design to construction and maintenance, from spatial integration to environmental management. Together, we can build and manage  the energy infrastructure chain end to end between source and user,” says Smolders.

Transition to sustainable energy

Heijmans has been building energy infrastructure for various utilities companies for many years. As a specialist in the field of high-quality cable systems, Heijmans ensures that electricity networks are always available. Heijmans also incorporates energy aspects into its design, construction and maintenance activities and ensures energy supply is a fixed part of its area development projects. With the transition to sustainable energy and the increasing use of electric transport and electrical appliances, the energy grid in the Netherlands needs to be expanded and modernised, as to remain reliable.

About Dynniq Energy

With its head office in Moordrecht, Dynniq Energy focuses on improving energy supply. This includes both the distribution of cables and pipelines to districts and households as well as the engineering and construction of stations for high-voltage networks. The company is a recognised player in the improvement of electricity networks to achieve a low-CO2 emission energy economy. The company’s important customers include grid managers such as Liander, Stedin and TenneT. Dynniq Energy B.V. has been an independent player in the Dutch energy market since 2019.

The company was originally part of Imtech Traffic & Infra, which was acquired by private equity firm Egeria in 2015. “The existing partnership with Heijmans in the energy market has created a good foundation for and confidence in the current acquisition,” says Mark Wetzels of Egeria. “As an advisory board, we are extremely proud of what the entire Dynniq Energy team has achieved and we wish them a bright future under the Heijmans banner,” Wetzels adds. “We were already working together successfully and our cultures are a good fit. This is the perfect step to provide our clients with even better support in achieving their strategic objectives,” says Maarten van Raaij, CEO of Dynniq Energy.

About Heijmans

Everyone wants clean air, to live in a nice neighbourhood, to work in a good workplace and to be able to travel safely from A to B. By making things better, more sustainable and smarter, Heijmans is creating that healthy living environment. Jan Heijmans started as a road builder in 1923. Today, Heijmans is a stock exchange-listed company that combines activities in property development, building & technology and infrastructure. In addition to this, we work safely and we add value to the places where we are active. This is how we build the spatial contours of tomorrow together with our clients: www.heijmans.nl/en/

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Equinor signing strategic collaboration agreement with Aibel

Ferd

To ensure a close and long-term collaboration, Equinor and Aibel have entered into a strategic collaboration agreement. The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities.

For several years Aibel has been one of Equinor’s key collaboration partners. As an example they were awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.

“Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Key supplier
Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026. CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety. At the same time he is proud of Aibel being the first company with which Equinor is signing such a strategic agreement.

“Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer and not least more cost-effective deliveries benefitting both parties,” says Andersen.

Aibel has, during the past years, established itself as one of the leading suppliers of offshore converter platforms to be delivered to, i.e., the Dogger Bank A, B and C offshore wind farms in the UK. In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.

Future-oriented
“I am very pleased that we have arrived at this strategic collaboration agreement, and we strongly believe that Aibel is capable of delivering on the ambitious improvement agenda that the companies have formed together. Aibel can provide a large number of the services we need. We also think it is positive to make a stronger commitment to a major Norwegian supplier, which is present in large parts of the country where we also have activities. This collaboration will continue to create ripple effects in Norway,” says chief procurement officer Mette H. Ottøy.

The companies will keep pursuing opportunities for standardisation and simplification in both offshore wind and electrification of oil and gas installations. Across all activities Equinor and Aibel are focusing on raising awareness on climate change in the fabrication phase and supply chain, and reduce emissions. The companies also have a joint ambition of making the activity in North Norway more robust in a long-term perspective.

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Peafowl Plasmonics raises 40MSEK in seed round led by Industrifonden & Navigare Ventures

Industriefonden

We’re happy to announce our investment in Peafowl Plasmonics, as they take the next step on their commercialization journey. With this seed round of funding, co-led by Industrifonden and Navigare Ventures, and backed by current owners, the company is disrupting energy supply with transparent solar power to replace batteries and cables, making our world greener, smarter, and more sustainable.

The necessity to reduce energy consumption and the ever-increasing demand for renewable energy sources are driving the development of new technology. Peafowl’s direct plasmonic light harvesting cell converts light into electricity, using plasmonic nanoparticles as the active, photovoltaic material. By replacing single-use batteries and adding aesthetic value, energy can become beautiful.

The first step will be to relocate out of Ångström Laboratory, Uppsala University. The new production facility will bring the capacity to produce prototypes and fine tune the production process, to be deployed at the customer’s production site, facilitating integration into their manufacturing.

“We are very happy to be able to establish our own production facility, which is what we need to commercialize our technology. We will also look to complement our team with some key competences to increase our capacity further,” says Cristina Paun, Co-founder of Peafowl. “With this in place we really look forward to reach a wider market with our transparent light harvesting cells, which will make a true sustainability impact in many different applications.”

With the new facility in operation, initiated development projects with commercial partners within glass manufacturing, e-paper displays and consumer devices, will progress and new projects will be committed. While the technology development and production will move to new premises, the research part of the company will remain at Ångström Laboratory, with its close connection to the academic environment, Uppsala University being recognized as world leading in plasmonics research.

“The characteristics of plasmonics are truly amazing and enables new and completely invisible energy solutions for electronics. The Peafowl technology makes it possible to power functionalities off the grid, which will become increasingly important,” says Anna Haupt, Investment Director at Industrifonden. “We see huge potential in many product segments, and I look forward to supporting the stellar team of Peafowl in their mission of providing the world with green energy.”

“By combining frontier research in quantum physics with entrepreneurial drive, Peafowl is creating a new category of light energy harvesting technology, with the potential to redefine energy supply for electronics,” saysAlex Basu, Investment Manager at Navigare Ventures. “This is precisely the type of science-based firms Navigare Ventures is looking for, ones that can shift industries, and why we are excited to announce Peafowl as one of our first investments.”

In conjunction with this funding round, Peafowl Solar Power has changed name to Peafowl Plasmonics, which better describes the company’s mission to explore the unique characteristics of plasmonics and the technology that will be developed with it.

Read more in Di Digital today.

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Ardian launches first open-ended fund dedicated to the energy transition

The Ardian Clean Energy Evergreen Fund (ACEEF) is targeting €1 billion for its first investment cycle. As an Article 9 fund under the EU’s SFDR, it is a permanent, long-term investment platform entirely dedicated to financing clean energy.

Ardian, a world-leading private investment house, today announces the launch of a new open-ended fund – Ardian Clean Energy Evergreen Fund (ACEEF).

The fund is Ardian Infrastructure’s first evergreen fund, offering investors the opportunity to grow their exposure to renewables and the energy transition. It is an Article 9 fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR) and therefore meets the highest social and environmental standards in Europe.

More than half of its €1bn target has already been invested in a seed portfolio of 12 wind and solar assets, totaling 1 GW of capacity in Europe and the Americas. The fund will continue to target mature renewable technologies including solar, wind and hydroelectric, as well as emerging technologies such as biogas, biomass, storage, and energy efficiency. The strategy is focused on operational optimization to maximize value creation. The fund targets up to €150m per individual investment.

The AXA Group is the cornerstone investor of ACEEF, and this partnership perfectly aligns with AXA’s ambition to fight climate change by financing the energy transition. As an open-ended structure, the fund will provide a permanent solution to Ardian’s clients to support renewable energy as part of Ardian’s wider energy transition strategy. The launch of ACEEF follows the creation of Hy24, the world’s largest investment platform focused on clean hydrogen.

ACEEF portfolio will also benefit from Opta, Ardian Infrastructure’s in house digital tool which collects and analyses data from its renewable assets. The platform uses this data to better understand production patterns, identify areas for improvement and optimize asset performance, as well as monitoring revenues at risk.

“ACEEF is a new innovative step to provide long term capital to accelerate the energy transition. The fund, managed by a highly qualified team with a track record spanning 15 years and a large network of industrial experts, offers to our clients a unique platform to operate in the renewable energy sector with an industrial approach. Ardian’s strategy to accelerate the energy transition is more relevant than ever to fight climate change and to contribute to energy independence.” Mathias Burghardt, Head of Ardian Infrastructure and Member of Ardian’s Executive Commitee

Ardian has been one of the pioneers in energy transition, having started investing in the renewable asset class since 2007. Across all Ardian Infrastructure Funds, the team already manages more than 7.6GW of heat and renewable energy capacity in Europe and the Americas.

In the coming months, Ardian’s expertise will be further strengthened by the arrival of a new Managing Director from the renewables industry, who will be dedicated to the clean energy platform.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$125 billion 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 850 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 more than 1,200 clients through five pillars of investment expertise: Secondaries, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

Media contacts

ARDIAN

HEADLAND CONSULTANCY

ardian@headlandconsultancy.com

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Elkem, Hydro and Altor partner to accelerate growth of Vianode, producer of sustainable battery materials

Altor

Elkem, Hydro and Altor (Altor Fund V) today announced a partnership with the intention to accelerate the growth of Vianode, a producer of sustainable battery materials. An investment decision for a potential first-phase plant at Herøya, Norway, is expected in the first half of 2022.

Vianode has developed a range of synthetic graphite products for batteries with unique performance characteristics and produced with significantly lower CO2 emissions than today’s standard materials – supporting the ambitions of leading battery cell and automotive manufacturers. Today, an electric vehicle (EV) contains on average 40-70 kg of graphite, representing a vital component of the battery. Vianode’s products are developed based on specialized know-how in high-temperature processes, closed production systems, lower energy consumption and access to renewable energy.

Founded in 2021, Vianode currently has around 50 employees. The company builds on Elkem’s experience in advanced material solutions, its in-house research and development resources, as well as the strong performance of Vianode’s industrial pilot plant in Kristiansand, Norway. After this transaction, Hydro and Altor will each have 30% ownership in Vianode, while Elkem will retain the remaining 40% ownership.

“I would like to congratulate the parties on a very exciting industrial collaboration! The Norwegian Government has great ambitions for a green industrial boost where batteries are one of six focus areas. The purpose is to create new, green jobs, increase mainland investment, increase exports outside oil and gas and reduce greenhouse gas emissions. These are the kind of projects and partnerships we want more of when we now will go through the biggest restructuring of the Norwegian economy ever,” says Norwegian Minister of Trade and Industry, Jan Christian Vestre.

An investment decision for a potential first-phase plant for Vianode is expected during the first half of 2022. This plant will have approximately 100 employees and produce graphite for more than 20,000 EVs per year. A potential full-scale plant will produce graphite for more than 1 million EVs per year and is expected to increase the number of employees in Vianode to around 300, enabling more than 1,000 green jobs including external effects.

The total investments in the first-phase plant and preparations for a potential full-scale plant are estimated at around NOK 2 billion. The plant development is pending clarifications related to framework conditions, including public support mechanisms and long-term access to competitive renewable energy and grid infrastructure.

“The market for battery materials is growing at an exponential rate and developing sustainable value chains is critical for the green transformation. Vianode aims to become a leading producer of sustainable battery materials, and this represents an attractive growth opportunity for Elkem. Hydro and Altor both add significant experience and expertise in developing large-scale industrial projects in the battery value chain. Through complementary skillsets, the partnership with Hydro and Altor will contribute to making Vianode a highly valuable contribution to the European battery value chain,” says Elkem CEO Helge Aasen.

“We are excited to partner up with Elkem and Altor to industrialize Vianode. We look forward to utilizing our industry scaling capabilities including project execution for large industrial projects, our material and process competence and experience as well as our track record from serving the car OEM segments for decades. Vianode is a good fit for our strategic direction of growing in renewable energy and new-energy solutions,” says Hilde Merete Aasheim, Hydro President & CEO.

“We are thrilled to partner with Elkem and Hydro on this very exciting opportunity. Vianode is perfectly positioned to shape the future of the automotive industry and will be an important contributor to the green transition and a carbon neutral future. We have experience from partnerships in other green transition projects where entire industries are being reshaped, and with Vianode we will build a new green EV supply chain in Europe. We are very impressed by the work Elkem has done with Vianode, and we think it will be a very exciting partnership with both Elkem and Hydro,” says Tom Jovik, Principal at Altor.

The transaction is subject to formal approval by all parties and regulatory approvals, including competition authorities.

Press meeting
Elkem CEO Helge Aasen, Hydro CEO Hilde Merete Aasheim and Altor principal Tom Jovik will together present the partnership and be available for questions in a press meeting today at 10:00-10:45 at Vækerø Hovedgård (Drammensveien 256, 0277 Oslo, Norway). Please sign up in advance via Maria Melfald Tveten (Maria.Tveten@hydro.com).

For further information, please contact:
Tor Krusell, head of Communcation Altor: +46705438747

About Vianode
Vianode, founded in 2021, is a producer of sustainable battery materials. The company is built upon technological advancements and experience developed over several years. Vianode’s range of synthetic graphite products offers unique performance characteristics and are produced with significantly lower CO2 emissions than today’s standard materials – supporting the ambitions of leading battery cell and automotive manufacturers. An investment decision for a potential first-phase battery materials plant at Herøya, Norway, is expected in the first half of 2022. Vianode is backed by Elkem (40%), Hydro (30%) and Altor (30%). www.vianode.com

About Altor
Since its 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 75 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 H2 Green Steel, OX2 and Helly Hansen. For more information visit www.altor.com

About Elkem
Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,000 people has a joint commitment to stakeholders: Delivering your potential. In 2021, Elkem obtained a Platinum score from EcoVadis, which rated the company among the world’s top 1% on sustainability transparency, and the company achieved an operating income of NOK 33.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com

About Hydro
Hydro is a leading industrial company that builds businesses and partnerships for a more sustainable future. We develop industries that matter to people and society. Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for our 31,000 employees in more than 140 locations and 40 countries. Today, we own and operate various businesses and have investments with a base in sustainable industries. Hydro is through its businesses present in a broad range of market segments for aluminium, energy, metal recycling, renewables and batteries, offering a unique wealth of knowledge and competence. Hydro is listed on the Oslo Stock Exchange (ticker: NHY). www.hydro.com

Author: Katarina Karlsson
Date: 2022.04.06
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Altor acquires a significant minority stake in Svea Solar – continuing its growth in climate transition investments

Altor

Altor Fund V (“Altor”) has signed an agreement to acquire a significant minority stake in Svea Solar and enter into a partnership with the founders and management to support the continued growth of the company. The founders Erik Martinson and Björn Lind will continue in their roles as CEO and Head of Operations and remain major shareholders of the company.

Founded in 2013, Svea Solar is the #1 integrated solar solutions & service provider in Sweden and #3 in Europe with revenues above SEK 1bn (2021). The company serves more than 20 000 customers primarily focusing on the residential segment, but also through selected corporate partnerships. Starting out in Sweden, Svea Solar entered Spain in 2019, and further expanded into Germany and Benelux in 2020. The headquarters are located in Stockholm and the company currently employs ~700 people.

As part of the transaction, Altor is injecting significant growth capital into the company, to support the accelerated geographical expansion as well as launch of a fully integrated residential solar offering in the near term. In addition, Altor is acquiring all outstanding shares from current shareholder Axsol AB. In total, this makes Altor the lead investor in Svea Solar.

“It is more important than ever to quickly scale up Europe’s access to clean energy, not only for the sake of the climate, but also to ensure that Europe becomes self-sufficient on energy. This enormous contribution from an experienced and engaged investor like Altor will enable us to further contribute to a more sustainable, resilient, and independent energy system. For us it was vital that Altor shared our vision of a future without fossil fuels, where we help people to become self-sufficient on clean energy as quickly as possible. We really look forward to start working closely with a world class investor like Altor,” says Svea Solar’s CEO and co-founder Erik Martinson.

“The investment builds on Altor’s investment track-record in green transition businesses and is a testament to our strong conviction in solar as a critical component for European energy supply and balance. Svea Solar has quickly become the leading residential solar company in Sweden, with established positions in Spain, Germany, Belgium and the Netherlands. Svea Solar’s innovative team has built a remarkable brand position and we are certain they will continue to play a key role in driving the green energy transition in Europe in the years to come. We look forward to partnering with the Svea Solar team and shareholders to deliver on that ambition.” says Herman Korsgaard, Director at Altor.

For more information, please contact:
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47

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 75 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 and H2 Green Steel. For more information visit www.altor.com

About Svea Solar
Svea Solar is one of Europe’s fastest growing cleantech companies and the #1 solar solution provider in Sweden. Starting in 2014 Svea Solar now has operations in five markets in Europe with over 700 employees. Svea Solar offers a powerful solution for sustainable living with solar panel systems, batteries, electric car chargers, fossil-free electricity contracts, and a platform enabling customers to produce, consume and sell their power. In addition, Svea Solar develops large-scale energy production. Svea Solar aims for a world where everyone can be self-sufficient on clean energy. Svea Solar has operations in Sweden, Germany, Spain, Belgium and the Netherlands. For more information visit www.sveasolar.com

Author: Katarina Karlsson
Date: 2022.03.24
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InfraVia has reached an agreement with a Macquarie Asset Management led consortium to sell Reden Solar

InfraVia

InfraVia, has reached, alongside its partner Eurazeo, an agreement with Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, to sell Reden Solar, a leading European independent solar power producer.

Reden Solar, currently owned by InfraVia (53%) and Eurazeo (47%), is active across eight countries, with more than 750 MW in operation and a sizable maturing pipeline.

This transaction is based on a €2.5bn Enterprise Value.

Since InfraVia’s acquisition in 2017, Reden Solar has developed its asset base, including platform management, structuring and expansion through a combination of organic and external growth. Capitalizing on our long-standing experience in the sector, Reden Solar’s seasoned management team has increased the group’s capacity by 8x and its EBITDA by more than 4x over the past five years. The group has also extended its footprint across Southern Europe, bolstering its market positions.

The completion of this transaction remains subject to regulatory and antitrust approvals.

Vincent Levita, Founder and CEO of InfraVia said:
« We have been extremely pleased to accompany Reden Solar during this development phase. This success proves our strategy right based on a strong sector conviction on renewable energy, an excellent management team and a disciplined buy-and-build approach. We have provided the group with a comprehensive set of resources that have paved the way for Reden Solar’s transformation into a fully integrated platform and a leading European independent solar power producer. The group is now focused on large and stable high growth markets, with a strong track-record and a sizable pipeline. We are convinced that this Macquarie led consortium will continue the development of Reden Solar with the management team. »

Our advisors on this transaction are Citigroup and Nomura (M&A); Weil, Gotshal & Manges (legal advisors); E&Y (financial advisors); Baringa (commercial); Rina and Enertis (technical).

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Pembina and KKR agree to merge Western Canadian processing assets

KKR

Combines three complementary platforms to create a premier western Canadian processing entity   

  • New joint venture to be operated, managed and majority owned by Pembina 

CALGARY, ALBERTA, March 1, 2022 – Pembina Pipeline Corporation (“Pembina”) (TSX: PPL; NYSE: PBA) and KKR today announced the signing of definitive agreements to combine their respective western Canadian natural gas processing assets into a single, new joint venture entity (“Newco”), which will be owned 60 percent by Pembina and 40 percent by KKR’s global infrastructure funds. The transaction brings together three complementary platforms to create a premier western Canadian processing entity with the ability to serve customers throughout the Montney and Duvernay trends from north central Alberta to northeast British Columbia.

Included in the transaction are Pembina’s wholly owned field-based natural gas processing assets, Veresen Midstream which is jointly owned by Pembina and funds managed by KKR, and Energy Transfer Canada (“ETC”) which is jointly owned by Energy Transfer and funds managed by KKR. Newco has entered into an agreement to acquire Energy Transfer’s interest in ETC, which is expected to be completed concurrently with the closing of the other transactions. Collectively, the ascribed value of these transactions totals approximately C$11.4 billion, excluding the value of assets under construction.

The transaction establishes meaningful alignment between Pembina and KKR and positions the joint venture to realize significant efficiencies and economies of scale. Newco will be managed and operated by Pembina, and will be led by Chris Rousch, current President and CEO of Veresen Midstream.

“We have developed a great, trusted relationship with Scott Burrows, Jaret Sprott and the industry-leading team at Pembina and we are thrilled to be deepening that partnership with today’s strategic combination,” said Brandon Freiman, Partner and Head of North American Infrastructure at KKR. “Importantly, we share Pembina’s views on the positive and essential role that Canadian natural gas plays within the global energy transition and we are pleased to combine these assets to create a stronger platform to meet that opportunity.”

With the support of Pembina and KKR, Newco will integrate Environmental, Social and Governance (“ESG”) considerations into its governance structure and long-term business strategy. Newco assets will be included in Pembina’s target of achieving a 30 percent reduction in greenhouse gas emissions intensity by 2030, against a 2019 baseline. Pembina’s policies and management systems related to environmental protection; health and safety; diversity, equity and inclusion; cybersecurity; Indigenous and community relations; and other ESG matters will be extended to include Newco’s assets not currently managed by Pembina.

“Pembina has enjoyed a strong relationship with KKR as a partner in Veresen Midstream over the past four years. The formation of this new joint venture is a natural extension of our relationship,” said Scott Burrows, Pembina’s President and CEO. “We are extremely pleased to be creating this exciting new company with KKR to drive real synergies and deliver a wider suite of commercial opportunities.”

Paul Workman, Director at KKR, added, “The industrial logic of combining these three complementary businesses in a fully-aligned partnership is compelling. We believe that a well-capitalized, customer-oriented private partnership between KKR and one of Canada’s leading infrastructure companies is incredibly well positioned to create value for our investors, customers and the communities in which we operate.”

Completion of the transactions is subject to approval under the Competition Act (Canada) and other customary closing conditions. Closing is expected to occur late in the second quarter or third quarter of 2022. Newco’s permanent name is expected to be announced prior to closing.

RBC Capital Markets is acting as financial advisor and Blake, Cassels & Graydon LLP is acting as legal advisor to Pembina. TD Securities is acting as financial advisor and Torys LLP is acting as legal advisor to KKR.

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About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

 

Media Contact

Cara Major or Miles Radcliffe-Trenner

(212) 750-8300

media@kkr.com

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DIF Capital Partners acquires 80% stake in French waste-to-energy project Dombasle Énergie

DIF

DIF Capital Partners (“DIF”) is pleased to announce the acquisition of an 80% stake in Dombasle Énergie, a French greenfield waste-to-energy project, located in Dombasle-sur-Meurthe in the North-East of France. The investment is made through DIF Infrastructure VI, alongside Solvay (10%) and Veolia (10%).

The project comprises the replacement of three coal-fired boilers with a new boiler room equipped with two furnaces running on 350,000 tonnes per year of refuse-derived fuel (“RDF”) produced from various types of nonhazardous waste that cannot be recycled.

The EUR 225 million capex project is scheduled to become operational before the end of 2024 and will directly and indirectly employ over 1,000 people. The project will combust 344kt per annum and has a capacity of 181 MW thermal power and 17.5 MW electrical power from a steam turbine, which will be reused for the industrial process. As the first project of its kind in France, Dombasle Énergie will (i) cut the site’s carbon footprint by about 50% (240,000 tonnes of CO2 reduction) per year and (ii) create a new outlet for waste (primarily from the Grand Est and neighbouring regions) that was initially non-recyclable and which will now be transformed into green energy.

Gijs Voskuyl, Partner and head of DIF’s core infra investment strategies: “With increasing pressure on landfill capacity and concerted community efforts to reduce landfill levels, waste-to-energy represents a significant opportunity for the generation of affordable green power across the globe. We are delighted to partner with Solvay as well as Veolia in this ambitious project which will significantly reduce Solvay’s carbon footprint as well as reuse 350,000 tonnes of non-recyclable waste, of which otherwise the majority would have been landfilled. Renewable energy investments are an essential part of DIF’s investment mandate, evidencing the company’s desire to positively contribute to a more sustainable future”.

The project secured long term non-recourse debt financing from Credit Agricole Leasing & Factoring’s subsidiary Unifergie and Bpifrance. Dombasle Énergie also benefited from the support of the Grand Est region and French environmental authority ADEME, as well as other private partners.

Advisors on the transaction included De Pardieu Brocas Maffei (legal) and H3P (financial) for the sponsors. The lenders were advised by Herbert Smith Freehills (legal), SETEC (technical) and Marsh (insurance). Other advisors included Sigée Finance (model audit), Willkie Farr & Gallagher (tax audit) and ESTER (hedging).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.8 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure 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 transition, and transportation sectors.

DIF Capital Partners has a team of over 180 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

More information:

Jorda Zuurendonk, Marketing & Communication Manager

j.zuurendonk@dif.eu

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