Tag Archives: Energy

The Carlyle Group Launches Boru Energy With Oil Industry Veterans Aidan Heavey and Tom Hickey

Carlyle

Boru Energy will target acquisitions of up to $1 billion, focussing on oil and gas opportunities across Sub-Saharan Africa

LONDON – Global investment firm, The Carlyle Group (NASDAQ:CG), announced today that it has agreed to partner with Aidan Heavey and Tom Hickey, through Boru Energy, a new platform that will target acquisitions of oil & gas assets across Sub-Saharan Africa. Aidan Heavey and Tom Hickey are well-regarded industry veterans with extensive investment experience investing in African oil & gas assets.

Boru Energy’s investment goal will be to assemble a portfolio of primarily non-operated interests in oil & gas production assets. The potential portfolio will be spread across several Sub-Saharan Africa countries and will consist of assets with significant commercialisation potential and where the operator is a high quality national, international or independent oil and gas company.

Funding for potential investments will come from Carlyle International Energy Partners, L.P. (CIEP), a fund that focuses on oil and gas exploration & production, midstream, and refining and marketing in Europe, Africa, Latin America and Asia. CIEP first invested in Africa in 2017, when Carlyle-backed Assala Energy acquired Shell’s onshore assets in Gabon. Boru Energy will benefit from the strong experience and industry expertise Carlyle has in this region and globally. This investment is led by Managing Director and Head of CIEP Marcel van Poecke and Managing Director Bob Maguire.

Aidan Heavey is the founder and former Chairman and CEO of Tullow Oil PLC, an Africa-focused exploration and production company listed on the London Stock Exchange. Under Heavey’s leadership, Tullow grew into a FTSE 100 company with production of over 80,000 barrels of oil equivalent per day. Tom Hickey was CFO of Tullow Oil between 2000 and 2008, where he worked closely with Mr Heavey, and has since held various management positions in the oil & gas industry.

Marcel van Poecke, Managing Director, and Head of the CIEP team, said: “Carlyle are pleased to partner with Aidan Heavey and Tom Hickey, both of whom have proven track records of successfully growing significant energy investments.  We look forward to providing them with support and capabilities in order to help Boru Energy as it builds a successful platform for investing in oil & gas opportunities across Sub-Saharan Africa.”

Aidan Heavey commented: “Boru Energy will build on our team’s experience and commitment to investing in Africa.  We will seek to invest to secure and increase production levels, extend field life cycles and support partners and governments to achieve long term, sustainable growth and create value.  We are committed to achieving best-in-class safety, environmental, social performance and transparent stakeholder partnerships. We look forward to working with Carlyle, future industry partners and our team on this exciting opportunity.”
For More Information:

The Carlyle Group:
Rory Macmillan
Roderick.Macmillan@carlyle.com
+44 (0) 207 894 1630

 

About the Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents. www.carlyle.com

About Carlyle’s Energy Platform

Carlyle has constructed a broad-based global energy, natural resources and infrastructure platform (currently with $27 billion in assets under management and 95 active portfolio companies), consisting of International Energy, North American Energy, North American Power and Global Infrastructure.

About CIEP

Established in May 2013, the CIEP team focuses on oil and gas exploration and production mid- & downstream, refining and marketing and oil field services in Europe, Africa, Latin America and Asia. The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to The Carlyle Group’s global network. The team operates primarily from offices in London while leveraging Carlyle’s local offices to pursue opportunities across Europe, Africa, Asia and Latin America and is reinforced by The Carlyle Group’s regional fund teams and global investment professionals.

The CIEP team consists of 16 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years’ combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years’ upstream experience in Africa, Latin America & Europe.

About Aidan Heavey

During his 33-year tenure at Tullow, Heavey developed Tullow into a company that maintains 80 exploration and production licenses in 15 countries in South America and Africa. Tullow is listed on the London, Irish, and Ghana Stock Exchanges. In 2017, Heavey stepped down as CEO of Tullow; however, he remained chairman until July 2018.

Tullow expanded in the 2000s through a series of acquisitions, most prominently the acquisition of Energy Africa in 2004, which doubled the company’s size by expanding Tullow’s production and exploration capabilities across Africa. In 2007, Tullow discovered and began production at the Jubilee oilfield—one of the largest oilfields in Africa—off the coast of Ghana. The company has continued to grow and had an exploration success rate of 70 percent, most recently offshore Guyana.

About Tom Hickey

Tom Hickey is an experienced oil & gas executive with more than 20 years of experience, including more than 10 years serving as a CFO at oil and gas exploration and production companies. From 2000 to 2008, Hickey was the CFO of London-headquartered E&P company Tullow. While at Tullow, Hickey oversaw the company’s USD 1.1 billion acquisition of Hardman Resources in 2007 and USD 570 million acquisition of Energy Africa in 2004. From 2011 to 2016, Hickey served as the corporate development officer and CFO of the Dublin-headquartered oil and gas exploration and production company PetroCeltic International PLC.

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Ardian Infrastructure acquires two photo-voltaic plants in Peru from Solarpack

Ardian

 

The transaction highlights Ardian’s commitment to investment in renewable energy and reinforces its presence in Latin America

Paris, September 20, 2019 – Ardian, a world leading private investment house, has acquired a 49% stake in two photovoltaic (PV) plants in Tacna and Panamericana, in southern Peru, from Solarpack, the Spanish multinational integrated management company. The deal is part of Ardian’s ongoing commitment towards investing in renewable energy.
The plants have a combined capacity of 48.6MW after repowering. The transaction is the latest development in Ardian’s successful partnership with Solarpack since 2016, when Ardian acquired four other Solarpack photovoltaic plants in Chile and Peru. Solarpack will continue to handle the plants’ operations and management services.
The investment cements Ardian’s position as a leading player in the renewable energy sector and will bring Ardian Infrastructure’s total installed renewable energy capacity to nearly 3GW across wind, solar, hydro and biomass in Europe and the Americas. Investing in energy renewable assets is part of Ardian commitment to fighting against climate change and building a sustainable economy.
Juan Angoitia, Senior Managing Director at Ardian Infrastructure, said: “This investment is a significant milestone in strengthening both our commitment to sustainability and our presence in Latin America, an increasingly important global hub for renewable energy. Our investment in Tacna and Panamericana expands our portfolio of renewable energy assets and strengthens our partnership with Solarpack and the high quality assets investment opportunities they provide.”
Pablo Burgos, CEO of Solarpack, added: “The global need for renewable energy sources is increasing day-by-day, so our ability to continue to build, develop and operate solar plants at pace is more important than ever. Our ongoing industrial partnership with Ardian has been beneficial with a long-term investment approach and we look forward to continue working closely with Ardian.”

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 620 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT SOLARPACK

Solarpack is a Spanish multinational company specializing in the development, construction and operation of solar PV plants. The company’s team of more than 100 professionals is developing a pipeline of more than 1.2 GW. The company has commissioned 35 MWp in five sites in Spain, 37 MWp in Chile, 26 MWp in Uruguay and 62 MWp in Peru. Solarpack performs the operation and maintenance of the plants it develops, and manages own and third-party assets for a total of 230 MW.
 

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
Tel: +44 20 3435 7469
vtsvetanov@headlandconsultancy.com

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Energy Transfer to acquire Semgroup

Alinda

Energy Transfer LP (NYSE: ET) has announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) in a share and cash transaction valued at approximately $5 billion.

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This represents a 65% premium to the closing price of SemGroup shares as of September 13, 2019.

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The transaction is expected to close in late 2019 or early 2020, subject to the approval by SemGroup’s stockholders and other regulatory approvals.

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Energy Transfer’s acquisition of SemGroup will increase Energy Transfer’s scale across multiple regions.

Energy Transfer will significantly strengthen its crude oil transportation, terminal and export capabilities with the addition of the Houston Fuel Oil Terminal (HFOTCO), a world class crude oil terminal on the Houston Ship Channel with 18.2 million barrels of crude oil storage capacity, five deep-water ship docks and seven barge docks. HFOTCO is supported by stable take-or-pay cash flows from diverse, primarily investment grade customers. Energy Transfer is also announcing its plans to construct a new crude oil pipeline, the Ted Collins Pipeline, to connect HFOTCO to Energy Transfer’s Nederland Terminal.

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Energy Transfer’s crude oil assets on the Gulf Coast will also benefit from SemGroup’s interest in the Maurepas Pipeline and its connections to the St. James refining complex.

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Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins.

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Investment funds managed by Alinda Capital Partners sold HOFTCO to SemGroup in June 2017. Following the September 2019 announcement by Energy Transfer, the funds have sold their interest in SemGroup shares.

The funds managed by Alinda Capital Partners continue to hold an interest in the Maurepas Pipeline, acquired in August 2018.

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EnerSys to acquire NorthStar from Altor

Altor

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, has entered into an agreement to acquire N Holding AB, the parent company of NorthStar, from Altor Fund II. Headquartered in Stockholm with production in Springfield, Missouri, NorthStar designs, manufactures and distributes industrial premium batteries for the Telecom and Transportation segments.

“In line with our previously disclosed strategy to increase sales of premium products we are pleased to announce the acquisition of NorthStar, which will enable EnerSys to dramatically accelerate our production capacity expansion for TPPL batteries” said David M. Shaffer, President and Chief Executive Officer of EnerSys.

NorthStar was founded in 2000 and was acquired by Altor in 2007, as the “industrial start-up” at that time wanted a partner to expand its offering, client base and target markets to grow and move away from dependencies. Transformations like that takes time and much has been accomplished today. It is another testament to the ownership philosophy of Altor – to partner with great entrepreneurs and to take the next step of the journey in every aspect.

“NorthStar is another fine example of our longer ownership horizon. Starting twelve years ago when NorthStar had one product, one major customer and one production plant. Today, NorthStar is transformed with a broadened product offering, launched the industry’s first IoT connected battery, expanded telecom client base and expanded into the transportation vertical, with a strong blue-chip customer base” Claes Ekström at Altor comments. “We believe EnerSys is an excellent new owner for this great company”.

Altor was advised by DC Advisory (M&A) and Wigge & Partners (Legal).

For more information, please contact:
Tor Krusell, Head of Communications Altor, +46705438747

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in more than 60 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 Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

About EnerSys®
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. With the recent Alpha acquisition, EnerSys provides highly integrated power solutions and services to broadband, telecom, renewable and industrial customers. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility and transportation industries, and by government and defense customers. The company also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. More information regarding EnerSys can be found at www.enersys.com.

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Partners Group to acquire 50% stake in Latin American power generation platform, EnfraGen

Partners Group

Partners Group, the global private markets investment manager, has agreed to acquire a 50% stake in EnfraGen, LLC (“EnfraGen” or “the Company”), a leading developer, owner and operator of specialized power generation assets in Latin America, on behalf of its clients. Glenfarne Group (“Glenfarne”), the US-based industrial owner and operator that founded EnfraGen, will retain the remaining 50% of the business. Part of Partners Group’s capital injection will fund EnfraGen’s expansion into Colombia with the acquisition of Termoflores, the country’s second largest back-up power generation asset and one of its largest combined cycle gas turbine assets.

Formed in 2015, EnfraGen specializes in providing back-up power for grid stability and baseload renewable power generation in investment grade countries in Latin America through its existing businesses, Prime Energía and Fontus. Prime Energía focuses on grid stability with a portfolio comprising eight thermal back-up power generation assets in Chile and the newly acquired Termoflores asset in Colombia. Fontus focuses on baseload renewable assets with an expanding portfolio of solar assets and three hydropower assets. Including the Termoflores acquisition, EnfraGen will have 1.4GW in total power generation capacity across its platform, plus an executable growth pipeline.

Following the investment, Partners Group and Glenfarne will work closely with EnfraGen’s management team, led by Brendan Duval, EnfraGen CEO and Founding Partner of Glenfarne, to drive forward a number of strategic value creation and growth initiatives. Key areas of focus will include the ongoing development of the Fontus assets in Chile, Colombia, and Panama; executing on the construction of the existing greenfield portfolio; and further expanding the platform via strategic acquisitions in target markets.

Brendan Duval, CEO of EnfraGen, states: “We are pleased to work with Partners Group to pursue our shared vision for EnfraGen as a preeminent power platform focused on grid stability and value-added renewable assets across investment grade Latin America. We see a robust pipeline of opportunities to further build EnfraGen’s portfolio, and look forward to combining Glenfarne’s and Partners Group’s expertise and innovation to achieve this vision.”

Edward Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds: “Latin America has experienced a rapid expansion of renewable energy sources, creating an increased need for grid stability. EnfraGen operates in a particularly attractive segment of this market, which benefits from structural renewable tailwinds and receives stable cash flows under long-term established capacity contracts. Back-up power generators such as EnfraGen play a critical role in reducing load imbalance in Latin America, and EnfraGen also provides reliable renewable energy to local communities.”

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Altor divests Enhanced Drilling to Energy Ventures Private Equity

Altor

On July 15, the Altor 2003 Fund and Altor Fund II (jointly “Altor”) signed and closed the sale of Enhanced Drilling Holding AS (“Enhanced Drilling”) to Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity and a major global oil company. EV Private Equity has been one of the most active investors in the oil and gas sector in recent years, and will together with its co-investor bring significant industry expertise and experience to the company, contributing to the growth and success of Enhanced Drilling. “We are happy that Enhanced Drilling’s leading technology has been recognized by the sector specialist EV Private Equity team and their co-investor, and we believe that the company has an exciting future ahead of it.” says Eivind Reiten, Chairman of Enhanced Drilling for multiple years and also an advisor to the Altor Funds. Altor initially invested in AGR, from which Enhanced Drilling was spun out, in 2004.

About Enhanced Drilling
Enhanced Drilling supplies innovative technical solutions and services to the global offshore industry. It has offices and facilities in Norway, Australia, Malaysia, Azerbaijan, Canada, the UK and the USA. For further information, please visit the Enhanced Drilling website at enhanced-drilling.com.

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 4.2 billion in more than 60 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 Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

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DIF Capital Partners acquires 203MW wind portfolio in the US

DIF

DIF Infrastructure Fund V (“DIF”) is pleased to announce financial close of the 100% acquisition of MIC Renewable Energy Holdings LLC’s indirect interest in two operating wind projects located in the United States with a gross capacity of 203MW.

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Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) have been operational since 2011 and 2014, respectively. Both projects have long-term power purchase agreements with investment grade off-takers. The projects will be operated and managed by Longroad Energy Services under asset management and operations & maintenance agreements.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the United States.

Paul Huebener, Partner and DIF’s Head of Americas added: “We are pleased to add these established wind projects to our portfolio of long-term, contracted assets. We believe the projects will provide attractive returns and stable cash flows to our investors.”

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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Ardian infrastructure acquires stake in Hill Top Energy Center

Ardian

Ardian Infrastructure joins funds managed by Ares Management Corporation and Menora Mivtachim Insurance in financing 620 MW natural gas-fired power plant project

New York, July 8, 2019: Ardian, a world-leading private investment house, today announces they have agreed to purchase 41.9% of the Hill Top Energy Center in Green County, PA from funds managed by the Infrastructure and Power Strategy of Ares Management Corporation (NYSE: ARES). Menora Mivtachim Insurance is the third partner in the deal.

When construction is complete in mid-2021, the 620-megawatt natural gas-fired Hill Top Energy Center (“Hill Top”), will sell capacity and energy to the Pennsylvania-Jersey-Maryland (PJM) regional transmission organization, the largest competitive power market in the United States. PJM serves all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia.

“We are excited to make an investment in this state of the art project,“ said Ardian Infrastructure US co-head Mark Voccola about the combined-cycle plant project. “We are thrilled to be working with an experienced management team alongside experienced investors, Ares and Menora Mivtachim Insurance, on this transaction, which will bring efficient, low-cost, natural-gas fired power to a vital energy market.”

“We are pleased to have Ardian join the Hill Top partnership, which represents the latest example of Ares’ value-added approach to clean, efficient energy infrastructure development,” said Andrew Schroeder, Partner within the Infrastructure and Power Strategy of Ares Management.

Kiewit Power Constructors will serve as the engineering, construction and procurement contractor on the project. Gas turbines, steam turbines and heat recovery generators will be provided by GE Power. Hill Top Energy Center is expected to come online for electricity production in 2021.

“The Hill Top investment continues our approach of identifying and investing in essential U.S. infrastructure assets that serve both our investors and the community at large,” continued Mr. Voccola. “This state-of-the-art plant will replace aging, inefficient energy generation, and will provide long-term, cleaner-burning, low-cost energy.”

ABOUT ARES MANAGEMENT

Ares Management Corporation is a publicly traded, leading global alternative asset manager with approximately $137 billion of assets under management as of March 31, 2019 and 19 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit
www.aresmgmt.com.
The Ares Infrastructure and Power strategy has a 31-year track record of investing in assets and companies in the power generation, transmission and midstream energy sectors. Ares Infrastructure and Power has deep domain expertise based on approximately $8 billion of capital deployed across more than 140 transactions. These investments include roughly 40 GW of capacity, 1,000 miles of pipelines and 20,000 MMBtu/day of renewable natural gas. The group creates value and enhances returns by providing flexible capital solutions and investing across the asset life cycle, including development, construction and operations. During the last 15 years, Ares Infrastructure and Power funds have invested in nearly 10,000 megawatts of greenfield generation and transmission projects, as well as over 200 miles of greenfield pipeline projects, representing over $12 billion of capital costs.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 610 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 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Ardian on Twitter @Ardian

www.ardian.com

PRESS CONTACTS

ARDIAN US
The Neibart Group
Charlie Mathon
cmathon@neibartgroup.com
Tel +1 718 801 8824
Cell +1 508 614 0667
ARES MANAGEMENT CORPORATION
Media:
Mendel Communications
Bill Mendel
bill@mendelcommunications.com
Tel +1 212-397-1030

Investors:
Carl Drake
cdrake@aresmgmt.com
Tel +1 800-340-6597

Priscila Roney
proney@aresmgmt.com
Tel +1 212-808-1185

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InfraRed backed Statera Energy enters into strategic partnership with Statkraft to faciliate low carbon transition in the UK

InfraRed Capital Partners

InfraRed Capital Partners (“InfraRed”) is pleased to announce that Statera Energy (“Statera”), the UK’s leading developer, owner and operator of flexible infrastructure, has entered into a 15-year strategic partnership with Statkraft to realise a 1 GW portfolio of utility scale flexible generation and energy storage projects.

Statera Energy will provide one of the UK’s largest battery facilities to store renewable energy at times of excess production. Statera will also deliver high efficiency gas reciprocating engines to flexibly generate electricity at times of under-production or peak demand. The assets will complement Statkraft’s 3.8 GW UK renewable generation portfolio, contributing to a reduction in conventional, less flexible, fossil fuel generation and carbon emissions in the UK’s electricity system.

Statera, backed by global investment manager InfraRed Capital Partners, will continue to develop, build, own and operate its flexible gas generation and energy storage portfolio throughout the partnership. As new assets come online, they will be integrated into Statkraft’s virtual power plant and advanced trading platform.  Statkraft will provide market optimisation, trading and risk management services to the assets.

Statkraft, strives to be a leading route-market-services provider to ensure a secure, renewable and cost-efficient electricity system of the future. Flexible power generation will continue to form an essential part of enabling the viability of renewables in the coming decades, at the lowest cost to consumers.

Duncan Dale, head of Statkraft’s markets business in UK, said:

“Statkraft recognises the importance of flexible power generation for the provision of secure energy supply in the years to come until multi-day mass energy storage becomes economically viable. It is vital that any new generation capacity is highly efficient and ultra-flexible, like Statera’s.

We have partnered with Statera because of their project development approach and relentless optimisation of the project design and operations. Everything about these projects suggests that new efficiencies can be made, which means lower carbon emissions and lower costs to the consumer. The energy market and the UK’s transition to a low carbon future should benefit greatly from unlocking this potential.”

Tom Vernon, Managing Director of Statera Energy, said:

“Statera is excited to be able to continue to deliver best-in-class energy storage and highly flexible and efficient gas generation to the renewable energy market in the UK. We intend to do our part to support security of supply and facilitate the low carbon transition enabling a more renewable future.

We have partnered with Statkraft because of its industry-leading trading capabilities and innovative approach to the future energy market. The UK generation mix and electricity market design will continue to evolve rapidly in the coming years, becoming increasingly volatile and challenging to trade. Statkraft will optimise the increasing dependence that its renewable portfolio has on flexible generation and storage, to help balance the electricity system using Statera’s assets for the next 15 years.”

Enquiries

Tulchan Communications
+44 (0) 20 7353 4200
Sheebani Chothani

More Information

About InfraRed Capital Partners 

InfraRed Capital Partners is a global investment manager focused on infrastructure and real estate. It operates worldwide from offices in Sydney, London, Hong Kong, New York, Seoul and Mexico City. With around 150 professionals it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed Capital Partners is authorised and regulated in the UK by the Financial Conduct Authority.

InfraRed Capital Partners has been investing in the Infrastructure market for over 20 years and is an expert in the development, financing and management of infrastructure projects from their conception, design and construction into their operating phases.

InfraRed Capital Partners was the lead sponsor responsible for the development and execution of this complex and unique transaction for Curtin University.

InfraRed Capital Partners implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed Capital Partners is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed’s website, www.ircp.com.

 

About Statera Energy

Statera Energy is the UK’s leading developer, owner and operator of battery storage projects. It has been operating two of the UK’s largest batteries (c.100MW) from 2017, with a further 600MW of projects consented and ready for  construction. In addition, Statera Energy is pioneering highly flexible, highly efficient, gas reciprocating engines.  These fast-action power plants enable the UK to continue to grow its renewable energy portfolio, protecting the National Grid against the intermittent and unpredictable nature of weather dependent energy sources. In 2016 the company commissioned a 50MW flexible gas-fired power generation plant and has since secured consents for a further 200MW of projects which are ready for construction. Beyond this the company is actively developing a large pipeline of transmission and distribution connected projects at strategic locations in the UK. Statera Energy is majority owned by Infrared Capital Partners.

Further details can be found on Statera Energy’s website, www.stateraenergy.co.uk

 

About Statkraft

Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3,600 employees in more than 16 countries.

In the UK Statkraft develops, owns and operates renewable production facilities and is also involved in the trading, origination and optimisation of energy from own projects and those of third parties using our sophisticated and in-house developed Virtual Power Plant technology.

As a leading provider of Power Purchase Agreements for renewable and flexible generators and energy storage facilities, Statkraft has facilitated over 6 GW of new-build assets for third parties

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Gimv invests in German energy storage specialist Smart Battery Solutions

GIMV

28/05/2019 – 07:30 | Portfolio

Gimv has acquired a majority stake in Smart Battery Solutions GmbH (SBS) based in Kleinostheim near Frankfurt. With Gimv’s support, the company aims to continue its strong growth path in the highly dynamic battery market, to increase its workforce, and to expand its production capacity.

Smart Battery Solutions (https://smart-battery-solutions.de/) was founded in 2010 by four industry experts and today employs 50 people. The company develops, manufactures and sells lithium-ion battery systems in the low voltage segment up to 60 volts. The product range covers the entire value chain, from the customer-specific assembly of externally produced batteries to the development and production of intelligent energy storage systems and charging technologies. SBS has also developed a number of proprietary battery management systems that control the operation and safe usage of battery systems.

Smart Battery Solutions’ product range is used in a variety of eMobility applications, including e-bikes, e-scooters, watercraft and drones. Furthermore, the company’s products can be found in stationary solutions such as constant power supply devices. The company’s strength lies in its ability to adjust quickly to individual customer and application-specific requirements with regard to form and features of the respective battery pack.

Last year, the Financial Times listed SBS among the 1,000 companies from 31 European countries with the highest annual sales growth between 2013 and 2016. Focus Money magazine ranked SBS as the number one company in its sector in 2018 for German growth champions.

Ronald Bartel, Partner, responsible for Gimv’s Smart Industries platform in the DACH region, says: “We are pleased to support Smart Battery Solutions and its founding team on their ambitious growth trajectory. The company operates in a highly dynamic market environment with strong demand. SBS is known by its customers for its agility, flexibility, and high degree of technological competence to meet even the most complex customer requirements. The company is an excellent fit for our Smart Industries platform, in which we aim to support technology-oriented companies with above-average growth ambitions to develop into market-leading positions in their niches.

The founders and senior managers of Smart Battery Solutions add: “Gimv is the ideal partner for us to support our growth plans in the future. Gimv will not just provide growth capital, but also its wide experience in accompanying technology companies in expansion. Together with Gimv, we will identify further solutions for new battery applications, establish new customer groups, as well as sales channels in other European countries. We are keen to stay at the forefront of the fast-growing battery market with our Made in Germany products.”

No further financial details will be disclosed.

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