Tag Archives: Energy

bp invests $5 million in geospatial analytics company Satelytics

BP Ventures

  • Firm uses machine learning and spectral imagery to monitor environment.
  • Technology combines data from satellites, drones and planes.
  • Part of bp’s strategy to deploy a suite of complementary methane detecting techniques across new and existing facilities.

bp ventures invests in Satelytics

bp ventures has invested $5 million in Satelytics, a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions.

 

Satelytics collects high resolution spectral imagery from the planet’s surface using satellites, drones, and planes. Its technology combines these images with proprietary algorithms to create unique electromagnetic signatures that can be used to detect environmental changes, including releases or leaks. Its software visualises these data sets on interactive displays that give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.

 

bp’s $5 million investment will enable Satelytics to develop its technology further and scale its applications throughout the oil and gas sector. Use of the technology has the potential to be part of bp’s aim to install methane measurement at all major oil and gas processing sites by 2023, publish the data and then drive a 50% reduction in methane intensity of its operations.

 

Morag Watson, bp senior vice president of digital science and engineering, said: “Satelytics is modernising the energy sector by making data about physical assets more accessible and digestible, leading to better decision making. We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalisation.”

 

Sean Donegan, chief executive of Satelytics, said: “bp’s early use of our detection and quantification software has inspired us to expand our capabilities. bp’s investment marks an inflexion point for Satelytics, which will assist us in expanding our technological capabilities and fuel future innovation.”

 

Through its venturing business, bp is making strategic investments in innovative, game-changing technologies and businesses that can help it reimagine the global energy system.

 

David Hayes, bp ventures managing director for the Americas and chief operating officer, said: “Earlier this year we announced our ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. As part of our ambition, one of our 10 aims relates to methane measurement at all of our major oil and gas processing sites by 2023 and reducing methane intensity of our operations by 50%. Advanced technologies such as Satelytics, integrating multiple approaches to efficiently detect emissions, have the potential to be a valuable tool that can support this work.”

Notes to editors

About Satelytics:

 

  • Satelytics Inc., is a cloud-based geospatial analytics software suite.
  • Multi or hyper-spectral imagery is gathered from satellites, UAV, planes, and fixed cameras, and processed to provide both alerts and qualitative results for our customers.
  • Data can be gathered on up to a daily basis and results sent to customers in hours.
  • This includes the specific problem, location, magnitude, and even qualitative information, which minimize cost, impact, and operational disruption for clients.

About bp ventures:

 

  • bp ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, bp has invested almost $700 million in technology companies across more than 31 active investments with more than 250 co-investors.
  • Venturing plays a key role in bp’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.
  • bp ventures focuses on connecting and growing new energy business. It makes strategic equity investments across a portfolio of relevant technology businesses including advanced mobility, low carbon and digital.
  • For more information visit: bp.com/ventures.
  • Shaun Healey, bp ventures Principal, will take up a director seat on the board of Satelytics.

Further information

Contacts

bp press office, London: +44 (0)20 7496 4076, bppress@bp.com

Kekst CNC, London: +44 (0)20 3755 1630, bpventures@kekstcnc.com

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Capricorn Digital Growth Fund announces first investment in Dutch AI company Gradyent while also adding new investors bringing the total fund size over € 50 million

Capricorn

Leuven, Belgium: 16 June 2020 – Capricorn Partners announced today the intermediary closing of its Capricorn Digital Growth Fund bringing commitments to over € 50 million. At the same time the fund closed its first investment together with Helen Ventures and ENERGIIQ, jointly committing € 1.9 million to Gradyent, a Dutch energy analytics solution company. Gradyent has developed an artificial intelligence (AI) cloud-based platform that supports the management and optimisation of district heating networks, making them more sustainable and cost-effective. The investment allows Gradyent to further develop its innovative software and to commercialise its services.

Katrin Geyskens, Partner at Capricorn said: “Serendipity allows us to welcome Noaber Ventures, the impact investment arm of the Dutch Noaber Foundation and a number of private investors to join our Capricorn Digital Growth Fund, at the same time as we are announcing the first investment of this fund. Gradyent is a perfect illustration of our investment strategy focusing on data driven companies. The drive towards accelerated digitalization and the smart use of data has been clearly underpinned during the current pandemic. Hence we are convinced that our Capricorn Digital Growth Fund will see AI based interesting and rewarding investment opportunities both in digital health and industrial applications.”

Strong investment consortium for Gradyent

The investment in Gradyent of almost € 2 million comes from a European consortium of investors including the Capricorn Digital Growth Fund, Helen Ventures (Finland) and ENERGIIQ (Netherlands). Together with existing investor henQ, the syndicate will support Gradyent with expertise and access to their international networks throughout Europe.

Gradyent was founded early 2019 by a team of seasoned entrepreneurs with years of national and international experience in energy, tech and artificial intelligence (AI). This combined with the expected positive environmental impact and significant market potential of their AI-powered solution for heating networks, makes Gradyent a very attractive investment target.

Maarten Lambert, investment associate at Capricorn Partners, says: “Gradyent is a perfect example of how AI technology can transform raw data into actionable insights. We are proud to be part of a company that has the ambition to support businesses on their journey to become more energy efficient and make our planet a better place to live.”

Optimising the management and efficiency of district heating networks

Many district heating networks run on legacy control systems with often outdated software solutions that provide limited insight into the network’s efficiency – or lack of it. This gets in the way of innovation and constrains optimisation.

Gradyent’s solution helps district heating companies participate in the sustainability transition by improving the management and efficiency of district heating networks without compromising stability and reliability. Gradyent uses digital twin technology (a replica of real-world objects) built by a unique combination of hydro- and thermodynamic modelling combined with AI. Its AI cloud platform not only provides insight into heating networks but also determines how to optimise them and improve overall efficiency. The solution leads to a significant reduction in CO2 emissions and users immediately see a positive financial impact as the solution provides a rapid return on investment. Gradyent is showing promising results with its first customers.

As Mikko Huumo, director of Helen Ventures, explains, “In the coming years, energy companies, including Helen, will transform district heating networks into sustainable CO2-neutral heating systems. In practice, large fossil fuel-fired power plants will be replaced with smaller decentralised heat sources and this will increase complexity in the network. Digital tools, like Gradyent’s AI platform, will be needed to provide heat efficiently and reliably to customers every single day.”

Continuing the journey

Gradyent will use the funding to commercialise its services and expand its efforts particularly in AI and software development.

Hervé Huisman of Gradyent: “More than half of the world’s energy demand is in the form of heating, and our team believes there is a huge potential for improving sustainability by smart optimisation and AI. Our first projects with district heating customers in the Netherlands confirm the potential of our solution, and we are excited about extending the offering to our growing Dutch and international customer base in the coming period. We are extremely proud that we can now continue our journey with Capricorn, Helen Ventures and ENERGIIQ on board. These parties can all add relevant insights and provide access to energy, digital growth and district heating networks. Together with our current investor henQ, we have the perfect foundation for our next chapter!”

Rafael Koene, fund manager at ENERGIIQ: “The ENERGIIQ investment team is impressed with Gradyent and the investment consortium that was formed. We are convinced – also because of the strong management team – that Gradyent will experience strong growth in the coming years and that many heating networks will start using Gradyent’s AI platform. The growth will lead to significant CO2 reduction.”

More infor on Gradyent‘s website.

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KKR to Acquire 317MWp of Solar Energy Assets from Shapoorji Pallonji Infra

KKR

Investment in five assets to accelerate the provision of renewable energy solutions to Indian communities

MUMBAI, ‎India–(BUSINESS WIRE)–Apr. 27, 2020– Global investment firm KKR and leading infrastructure developer Shapoorji Pallonji Infrastructure Capital (“SP Infra”) today announced the signing of definitive agreements under which KKR will acquire five solar energy assets from SP Infra for total consideration of INR15.54 billion (approximately US$204 million). The portfolio comprises of assets with a capacity of 169MWp in Maharashtra and assets with a capacity of 148 MWp in Tamil Nadu.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200426005079/en/

With a legacy of 154 years, the Shapoorji Pallonji Group is based in Mumbai and operates in over 70 countries with a global turnover of over US$5 billion. SP Infra is the infrastructure development arm with assets and businesses in the renewable and gas-based power, highways, port and terminals in India and overseas.

David Luboff, Head of Asia Pacific Infrastructure at KKR, said, “We are truly pleased to extend our Infrastructure franchise in Asia and India through this investment in a world-class portfolio of fully operational solar energy projects. Given the growing demand across Asia Pacific for sustainable energy solutions, we also see this as a great example of how KKR can bring capital and expertise to assets to help meet the demand for infrastructure development. Looking ahead, we are excited to explore even more renewable energy opportunities in India and overseas.”

Sanjay Nayar, CEO of KKR India, added, “SP Infra and the Shapoorji Pallonji Group are recognized in India and worldwide for the high quality of their renewable energy projects, and given the government’s ambitious target of achieving 175GW of renewable energy capacity by 2022, we believe this is an attractive time to invest in this portfolio and provide even greater solar energy solutions to communities across India.”

Mukundan Srinivasan, Managing Director of SP Infra, said, “This deal further demonstrates SP Infra’s continued track record of developing high-quality infrastructure assets in its chosen spaces, creating value for further growth in its businesses, and be the partner of choice for high-quality international investors like KKR.”

KKR takes a flexible approach to Infrastructure investment in Asia Pacific. The Firm has evolved a traditional sector-based approach to Infrastructure – spanning assets such as transportation, energy, telecom, water and waste, among other segments – to further consider elements such as physical assets, proximity to the local economy, irreplaceability, sensitivities to economic cycles and governance, among other categories. KKR pairs the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value.

India is a key part of KKR’s Asia Infrastructure strategy, and this announced transaction is the Firm’s second investment in the country as part of its dedicated Infrastructure strategy.

Further details of the investment have not been disclosed. The transactions is subject to customary approvals. KKR makes its investment through its infrastructure fund.

EY acted as KKR’s M&A advisor and AZB & Partners and Simpson Thacher acted as KKR’s legal advisors. Edelweiss, Khaitan & Co. and PwC acted as SP Infra’s respective M&A, legal and tax advisors.

About KKR

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

About Shapoorji Pallonji Infrastructure Capital Company Pvt. Ltd

Shapoorji Pallonji Infrastructure Capital Company Pvt. Ltd (SP Infra) is a leading infrastructure development company, primarily focused in the power, roads and port sectors. Headquartered in Mumbai, SP Infra is a group company of Shapoorji Pallonji And Company Pvt Ltd.

About Shapoorji Pallonji And Company Pvt Ltd

Shapoorji Pallonji And Company Pvt Ltd, established in 1865 in India, is a global diversified institution, with a leading presence in the sectors of Engineering & Construction, Infrastructure, Real Estate, Water, Energy and Financial Services. With a strong employee base of over 70,000 people, we deliver end-to-end solutions across 70 nations. We build mega-structures, develop multifaceted iconic landmarks, drive innovative technologies in water management, renewable energy, oil & gas and power, with a focus on good governance and sustainable development, to engineer a better planet. To know more, please visit: www.shapoorjipallonji.com

Media:

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

AdFactors (for KKR India)
Deeptha Rajkumar
deeptha.rajkumar@adfactorspr.com
+91 9819803395

For SP Infra
Savita Pisal
savita.pisal@shapoorji.com
+91 9619698277

For Shapoorji Pallonji Group
Zarin Amrolia
zarin.amrolia@shapoorji.com
+91 7506237011

ConceptPR
Sneha Gadge
sneha.g@conceptpr.com
+91 9619531960

Source: KKR

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CapMan Infra invests in Nydalen Energi, the provider of environmentally friendly district heating and cooling in the fast growing Nydalen area in Oslo, Norway

CapMan Infra press release
5 February 2020 at 09.15 a.m. CET

CapMan Infra invests in Nydalen Energi, the provider of environmentally friendly district heating and cooling in the fast growing Nydalen area in Oslo, Norway  

CapMan Infra has entered into an agreement to acquire 100 per cent of the shares in Nydalen Energi AS (“Nydalen Energi”) from Avantor AS (“Avantor”). The company is the concession holder for district heating in the growing Nydalen area and has a highly attractive green production footprint for heating and cooling. The acquisition marks the CapMan Nordic Infrastructure I fund’s first core energy investment.

District energy is a fast-growing industry in Norway, backed by the ambitious climate targets set by the Norwegian government. Nydalen Energi and Avantor have been frontrunners in developing sustainable heating and cooling solutions within the capital city of Oslo. The concession area of the company is located in Nydalen, where during the last 25 years, Avantor has developed more than 600,000 m2 of property, transforming it into an attractive place to live, work and study in. Today Nydalen is a growing district with ~25,000 workplaces, ~10,000 students and ~3,500 residents. Nydalen Energi is the sole provider of district heating and cooling in the area, and has a green production footprint with ~90% of heating and 100% of cooling volumes produced with renewable energy sources, such as thermal energy, biofuels and hydropower.

“Norway has strong and attractive regulation in place to promote the use of district heating. We share this vision and believe that environmentally friendly district heating and cooling can play an important role in reducing the CO2 footprint of properties and thereby promoting greener societies. We find that the growing demand for district energy in Norway is underpinned by strong support from both landlords, tenants, as well as authorities, and find Nydalen Energi to be an attractive platform for entering the Norwegian market. We believe the company’s existing and future customers will benefit from CapMan Infra’s commitment to further develop the cost efficient and reliable heating and cooling infrastructure in the area,” says Ville Poukka, Managing Partner at CapMan Infra.

“In parallel with our real estate development in Nydalen, Avantor has for nearly 20 years developed Nydalen Energi to be a supplier of sustainable district heating and cooling in the area. We are proud of what we have achieved with Nydalen Energi and look forward to remain as a customer of the company and continue our focus on property development in the area,” says Øystein Thorup, CEO of Avantor AS.

CapMan Infra’s investment focus is core and core+ infrastructure assets in the energy, transportation and telecom sectors in the Nordics.

SEB Corporate Finance acted as the financial advisor and Simonsen Vogt Wiig as the legal advisor to CapMan Infra in the transaction. EY Corporate Finance acted as the financial advisor and Thommessen as the legal advisor to Avantor in the transaction.

The transaction is expected to close by end of February 2020 and is subject to customary regulatory approvals.

For further information, please contact:

Pekko Haaksluoto, Senior Investment Manager, CapMan Infra, tel: +358 40 584 6031

Øystein Thorup, CEO, Avantor AS, tel: +47 958 43 834

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. www.capman.com

About Avantor

Avantor is a leading property developer who currently owns approximately 250,000m2 commercial property, mostly located in the Nydalen region in Oslo, but also in Kristiansand and Tønsberg. Since the early 1990s, Avantor has had an integral role in transforming Nydalen from being an industrial cluster to a highly attractive area for businesses, households and students, and has over the period developed more than 600,000m2 in the district. Avantor’s focus on sustainability has been an important part of the development of Nydalen, and with this in mind, Nydalen Energi was established in 2002 in order to provide the growing district with green heating and cooling. Avantor’s main office is located in Nydalen, where approximately 40 people are employed. www.avantor.no

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General Fusion Closes $65M of Series E Financing – Gimv contributes to the search of an answer for a carbon-free energy future

GIMV

Funding Enables the Company’s Fusion Demonstration Plant

VANCOUVER, Canada – General Fusion announced that it has successfully
closed USD$65 million of Series E equity financing. The financing was led by
Temasek, a global investment company headquartered in Singapore.
This USD$65 million of new financing, together with the release of CAD$50
million in additional investment from Canada’s Strategic Innovation Fund,
enables the Company to formally launch the program to design, construct, and
subsequently operate its Fusion Demonstration Plant. This prototype facility is
intended to confirm the performance of General Fusion’s magnetized target
fusion technology in a power plant relevant environment. Pursuit of this next
important step toward commercially viable fusion energy reflects the growing
global collaboration between public and private stakeholders in this
transformative technology. General Fusion has attracted more than USD$200
million in funding to develop its practical approach to fusion energy.

“The world is pivoting toward fusion as the necessary complement to other
technologies which, collectively, will enable the carbon-free energy future we
all need,” said Chief Executive Officer Christofer Mowry.

“The success of our financing is further evidence that the global stakeholders in this endeavor are leaning into this challenge with action. We are proud and honored that
Temasek and our other investors have demonstrated their confidence in Share General Fusion with this funding.”

In addition to Temasek, the Cleantech Practice of Business Development Bank
of Canada (BDC), the DLF Group, Gimv, I2BF Global Ventures, Disruptive
Technology Advisers (who also assisted the Company in the financing), Hatch and several individual impact investors have become new investors in General Fusion.

They were joined in this Financing by many existing international
investors in the Company, including Chrysalix Energy Venture Capital, Bezos
Expeditions, Khazanah Nasional Berhad, Braemar Energy Ventures,
Entrepreneurs Fund, and SET Ventures.

About General Fusion
General Fusion is pursuing the fastest and most practical path to commercial
fusion energy, and is based in Vancouver, Canada, with locations in Washington
D.C., and London, U.K. The company was established in 2002 and is funded by
a global syndicate of leading energy venture capital firms, industry leaders, an technology pioneers.

Learn more at www.generalfusion.com.

About Temasek
Temasek is an investment company with a net portfolio value of S$313 billion
(US$231 billion) as at 31 March 2019. Temasek actively seeks sustainable
solutions to address present and future challenges, as it seeks to capture
investment and other opportunities that help to bring about a better, smarter
and more sustainable world. Headquartered in Singapore, Temasek has 11
offices around the world Beijing, Hanoi, Mumbai, Shanghai and Singapore in
Asia; and London, New York, San Francisco, Washington D.C., Mexico City, and
Sao Paulo outside Asia. For more information on Temasek, please visit
www.temasek.com.sg.

Contact:
To interview a General Fusion spokesperson, please contact:
Paul Sullivan
Office: +1 604 685 4742
Mobile: +1 604 603 7358
paul.sullivan@generalfusion.com

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EQT and Temasek launch O2 Power, a renewable energy platform in India

eqt

  • EQT Infrastructure and Temasek establish O2 Power, a renewable energy platform in India
  • O2 Power will be led by CEO Parag Sharma and have an experienced management team, possessing strong local knowledge and a proven track record of renewable projects in India

Singapore, 22 January 2020 – The EQT Infrastructure IV fund (“EQT” or “EQT Infrastructure”) and Temasek today announced the establishment of O2 Power (or “the Platform”), a renewable energy platform in India. O2 Power will target over four gigawatts of installed capacity across solar and wind and has received total commitments of USD 500 million in equity from EQT and Temasek to be deployed over the coming years.

Headquartered in Gurgaon in the Northern Indian state of Haryana, O2 Power will focus on developing utility scale renewable projects across solar, wind, and hybrid with good quality off-takers via both Greenfield project development and M&A.

The Platform will be led by Parag Sharma as CEO together with an experienced management team consisting of Peeyush Mohit as COO, Nimish Agrwal as Head, Solar and Rakesh Garg as Head, Wind, all with strong local knowledge and proven track records of executing renewable energy projects in India.

The investment in the Platform is in line with EQT’s thematic approach to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals (SDGs). The Platform contributes to society by providing households with renewable energy hence addressing the SDG 7 – ensure access to affordable, reliable, sustainable and modern energy for all.

Fabian Gröne, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, commented: “India presents significant investment opportunities being the second largest renewable energy market in the world and EQT is delighted about teaming up with Temasek and O2 Power. CEO Parag Sharma and his management team have a successful  track record and EQT looks forward to work together in creating a future-proofed renewable energy platform. This is not only EQT Infrastructure’s first investment in India, it is also well in line with our ambitions to contribute to a cleaner future.”

Nagi Hamiyeh, Joint Head, Investment Group at Temasek, added: “We seek opportunities to invest in solutions that contribute to a better and more sustainable world. The partnership with EQT to establish O2 Power is consistent with our focus on sustainable living, and in particular, the development of eco-conscious energy solutions.”

Parag Sharma, CEO of O2 Power, concluded: “We are excited about joining forces with EQT Infrastructure and Temasek. Besides capital from two of the most prominent investors in the world, we are looking forward to leverage their know-how and industry relationships to support the development of the O2 Power platform.”

With this transaction, EQT Infrastructure IV is expected to be 60-65 percent invested.

Contact
Fabian Gröne, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, +65 6595 1831
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Temasek Media Team, media@temasek.com.sg

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About Temasek
Temasek is an investment company with a net portfolio value of S$313 billion (US$231 billion) as at 31 March 2019. Temasek’s Charter roles as an investor, institution and steward, shape its investment stance, ethos and philosophy, to do well, do right and do good. Its investment philosophy is anchored around four key themes – Transforming Economies, Growing Middle Income Populations, Deepening Comparative Advantages, Emerging Champions.

Temasek actively seeks sustainable solutions to address present and future challenges, as it capture investment and other opportunities that help to bring about a better, smarter and more sustainable world.

Temasek has had an overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively, since inaugural credit ratings in 2004.

Headquartered in Singapore, Temasek has 11 offices around the world: Beijing, Hanoi, Mumbai, Shanghai and Singapore in Asia; and London, New York, San Francisco, Washington D.C., Mexico City, and Sao Paulo outside Asia.

For more information on Temasek, please visit www.temasek.com.sg

This release was sent by Cision

https://news.cision.com/eqt/r/eqt-and-temasek-launch-o2-power–a-renewable-energy-platform-in-india,c3014442

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Partners Group to acquire European renewable energy developer VSB Group

Partners Group

Partners Group, the global private markets investment manager, has, on behalf of its clients, agreed to acquire an 80% equity stake in VSB Group (“VSB” or “the Company”), a leading European developer, owner and operator in the renewable energy sector. VSB’s founder will retain the remaining equity stake alongside Partners Group.

Founded in 1996, VSB operates throughout the renewable energy value chain, from the development of projects, to asset management and the technical and commercial management of operational sites, as well as having a broad offering in energy solutions. VSB has successfully developed and built over 1.1GW of onshore wind and solar PV generating assets to-date and manages over 1.4GW of wind assets. VSB has successfully expanded from its headquarters in Dresden, Germany, to become a European renewable platform active in eight countries with over 300 employees, 19 offices and ten service hubs. The transaction value includes a significant allocation to fund future growth, allowing for the option to retain ownership of assets and develop an Independent Power Producer.

Andreas Dorner, Founder and Managing Director, VSB Group, says: “VSB has enjoyed great success to-date as an independent, multinational company. However, given the vast opportunity for renewable energy, we wanted a like-minded partner to accelerate our next phase of growth. In Partners Group, we have found a global partner with significant operational resources and a wealth of international experience in hands-on renewable energy investment. We are looking forward to building on our shared values as we grow VSB together.”

David Daum, Member of Management, Private Infrastructure Europe, Partners Group, states: “We are very excited to partner with VSB to support its continued growth at a time when climate change sits high on political and social agendas. The Company’s proven development track record, strong and engaged management team, and sizable project pipeline make it an excellent fit for Partners Group’s platform expansion strategy. VSB is very well-positioned to capitalize on increased demand for environmentally-friendly sources of energy throughout Europe; we believe it has potential to become the preeminent European renewable energy platform. We will work closely with the management team to realize this ambition by leveraging our experience of institutionalizing businesses to accelerate the conversion and development of VSB’s renewable energy pipeline.”

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DIF Capital Partners agrees to sell a portfolio of French PPPs

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) has agreed to sell a portfolio of eight operational PPPs in France to 3i European Operational Projects Fund.

The portfolio consists of significant shareholdings in three educational facility projects, one multimodal train station project, one fire station project (consisting of 12 fire stations), two prison projects (consisting of three prison facilities each) and one sewer project. The projects are operational under availability-based and long term contracts, with the exception of the sewer concession project, and are all backed by strong public counterparties. Six of the eight projects were developed and acquired by DIF III as greenfield projects, and have been successfully managed into stable operational projects during DIF’s ownership.

Andrew Freeman, Head of Exits, said: “We are pleased with the sale of the portfolio that was successfully optimized throughout the life of the assets and exited via a competitive portfolio sales process. The sale represents a further underpinning of DIF’s long standing track record in the French infrastructure market and is an attractive exit for DIF III.”

DIF was advised by KPMG (M&A, Tax & Accounting), Allen & Overy (Legal) and Currie & Brown (Technical) and Egis (Technical for the sewer project).

Closing of the transaction is subject to receipt of certain customary project-counterparty approvals and antitrust consent.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

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

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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Ardian and OX2 switch to N149/5.X turbines at Swedish 286 MW Åndberg wind farm

Ardian

In December 2019, Ardian, a leading private investment house, and OX2, a leading Nordic developer, signed an agreement with Nordex to utilize more powerful turbines at the Åndberg windfarm

Hamburg, 10 January 2020 – Ardian and Nordic developer OX2 are relying, for the first time, on Nordex turbines of the 5 MW class for the 286 MW wind farm “Åndberg”. The Nordex Group had already booked this order comprising 53 turbines as order intake in 2019, at that time on the basis that N149/4.0-4.5 turbines of the 4-MW class would be used. In December 2019, the customers and Nordex signed a contract for the use of even more powerful turbines at the wind farm. This makes the Åndberg project the first wind farm using the new N149/5.X turbine, which the Nordex Group introduced in March 2019.

Åndberg is currently being constructed in the province of Härjedalen, near Lillhärdal in western Sweden. The wind farm was sold to Ardian, a leading international private investment company, in February 2019 and forms part of their Nordic sustainable energy investment platform, eNordic. Following its completion in 2021, Åndberg will annually provide clean electricity in excess of 800 GWh, making it one of the largest wind farms in Sweden. Developer OX2 delivers the wind farm through an engineering and construction (EPC) agreement with Ardian.

Simo Santavirta, Head of Asset Management, Ardian Infrastructure, says: “These new turbines are innovative engineering, delivering impressive power, flexibility and efficiency. We are always looking to use the very best technological solutions for our assets and these turbines are a good example of this”.

Paul Stormoen, CEO at OX2 says: “We have a long-standing relationship with Nordex and are happy to see them continuing to develop competitive turbines suitable for the growing Nordic market.”

“We are pleased that OX2 has again opted for our wind turbines last year,” says Patxi Landa, CSO of the Nordex Group. “Technologically the N149/5.X is based on the N149/4.0-4.5 turbine type from the Delta4000 series. The N149/5.X can also be flexibly operated in different modes, depending on project requirements – and now in the 5+ MW power range too.”

The Nordex Group – a profile

The Group has installed more than 27 GW of wind energy capacity in over 40 markets and in 2018 generated revenues of EUR 2.5 billion.  The company currently has more than 6,000 employees. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India, Argentina and Mexico. The product portfolio is focused on onshore turbines in the 2.4 to 5.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.

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 generated more than 2 GW of wind power in the Nordic region. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania, France and Germany. Its head office is located in Stockholm, Sweden. Sales revenue in 2018 amounted to EUR 403 million.
www.ox2.com

About Ardian

Ardian is a world-leading private investment house with assets of US$96bn 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 550 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 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

About eNordic

eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives. Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics. It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way. eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.
www.enordic.fi

For more information, please contact:

Nordex SE
Felix Losada
Phone: +49 (0)40 / 300 30 – 1141
flosada@nordex-online.com

Contacts for investors:

Nordex SE
Felix Zander
Phone: +49 (0)40 / 300 30 – 1116
fzander@nordex-online.com
Ardian/eNordic
Headland
Carl Leijonhufvud
Phone: +44 20 3805 4827
cleijonhufvud@headlandconsultancy.com

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KKR to Acquire Significant Stake in Canada’s Coastal GasLink Pipeline Project

KKR

CALGARY, Alberta & NEW YORK–(BUSINESS WIRE)–Dec. 26, 2019– KKR, a leading global investment firm, today announced the signing of a definitive agreement to acquire, alongside Alberta Investment Management Corporation (AIMCo), a 65 percent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project) from TC Energy Corporation.

Coastal GasLink involves the estimated CAD $6.6 billion construction of 670 kilometers (416 miles) of natural gas pipeline and associated facilities. Once completed, the pipeline will have an initial capacity of 2.1 billion cubic feet per day and connect abundant Western Canadian Sedimentary Basin natural gas supply from the Dawson Creek, B.C. area to the LNG Canada liquefaction and export facility being constructed in Kitimat, B.C. By displacing coal and diesel-fueled generation with cleaner burning natural gas, LNG Canada expects to reduce global GHG emissions by up to 60-90 million tonnes per year, equivalent to 20-40 coal plants being shut down.

All necessary regulatory permits have been received for the Project and construction activities have commenced. Coastal GasLink is backed by 25 year Transportation Service Agreements with the five LNG Canada owners.

“We are excited to partner with TC Energy, a world class infrastructure developer, on this critical project,” said Brandon Freiman, Member and Head of North American Infrastructure at KKR. “Coastal GasLink represents our third investment in infrastructure supporting Canada’s natural gas industry. We believe the export of Canadian natural gas to global markets will deliver significant benefits for the Canadian economy and local communities in Western Canada, and enable meaningful progress toward reducing global emissions.”

KKR is making the investment primarily through a separately managed infrastructure account in partnership with the National Pension Service of Korea (NPS).

HSBC Securities (Canada) Inc. and TD Securities Inc. are serving as financial advisors to KKR, and Osler, Hoskin & Harcourt LLP is acting as KKR’s legal counsel.

About KKR

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

About NPS

NPS is a public pension fund in South Korea with assets under management of KRW 714.3 trillion ($620 billion) as at September 30, 2019. Established in 1988, the purpose of the fund is to maximize investment return while maintaining long-term fiscal stability to stabilize and promote public livelihood and welfare in Korea. With a distinct risk-return profile from traditional asset classes, alternative investments portfolio of NPS has contributed to generating sustainable returns for the total portfolio. NPS is headquartered in Korea and has 3 overseas offices in New York, London, and Singapore. For more information about NPS, please visit fund.nps.or.kr.

Source: KKR

Media:
KKR
Kristi Huller or Cara Major
212-750-8300
media@kkr.com

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