Tag Archives: Renewable energy

Ardian partners with the leading battery technology specialist Munich Electrification providing capital to accelerate the Company’s strategy

Ardian

Munich Electrification is a globally leading independent battery technology company, providing battery management systems, sensor technology and software for electric mobility and battery energy storage systems
• With development, engineering and manufacturing capabilities in Europe, Munich Electrification is well positioned as an integral part in the ongoing energy transition while supporting European technological sovereignty
• Ardian provides capital to accelerate Munich Electrification’s strategic targets across existing and adjacent market opportunities including data centers, non-road mobile machinery, automation and robotic application fields

Ardian, a global private investment firm, is acquiring a majority stake in Munich Electrification from the company’s founders. Munich Electrification provides battery management systems (BMS) and electronics, control and sensor components, as well as software primarily for electric mobility and battery energy storage systems (BESS) applications. As part of the transaction, the founders of Munich Electrification will retain a minority stake, while the existing management team will significantly invest alongside Ardian and the founders into the company. Completion of the transaction is subject to approval by the relevant competition authorities. The parties have agreed not to disclose the financial details of the transaction.

The Munich-based company was founded in 2014 and currently employs around 300 people. As leading battery technology specialist, the company’s main area is the development and provision of mission-critical BMS applied in commercial vehicles, BESS and passenger cars, combining hardware, software and sensor technology. Munich Electrification addresses structurally attractive and fast-growing industries, which are supported by strong long-term market fundamentals including the global electrification of transportation, decarbonization of energy systems and tightening regulatory requirements.

All systems including the proprietary software are developed in-house while series production is carried out by partners in Europe and soon USA. The company is well positioned to be an integral part in the European energy transition and technological sovereignty with major foothold and strong customer base in the US. The complementary management team has gained in-depth expertise through previous positions held at Tesla, Daimler, BMW, Audi, Continental and Bosch, amongst others. The product portfolio is based on a modular platform strategy that combines hardware with customized software and system configurations. This enables rapid and flexible adaptation to a wide variety of customer needs and application fields, as well as high scalability in production volumes. Munich Electrification’s customers include leading automotive OEMs and Tier-1s as well as utility-scale BESS system integrators, located primarily in the USA and Europe.

As part of the transaction, Ardian provides additional capital to Munich Electrification to accelerate the company’s strategic objectives and support its expansion plans. In partnership with Ardian, Munich Electrification intends to drive further growth by diversifying across market segments and expanding into new geographies. Alongside its strong organic growth trajectory, the company will explore selective buy-and-build opportunities to scale its platform and strengthen its market position in both existing and adjacent application fields, such as non-road mobile machinery (NRMM), data centers, drones & defense, and automation & robotics.

“Developing Munich Electrification into Europe’s leading independent battery technology company focusing on BMS has been an extraordinary journey. In just over ten years, we have developed into a leading supplier trusted by top-tier commercial vehicle OEMs and energy storage integrators across Europe and the United States, with a modular product platform that sets the benchmark for accuracy, safety and flexibility in our industry. To capture the significant opportunities to new segments and geographies ahead we wanted a partner with the industrial depth, European roots and global reach to accelerate that ambition. In the Expansion team at Ardian, we have found exactly that, and we look forward to writing this next chapter together.” Georg-Friedrich Graf, CEO, Munich Electrification

“Munich Electrification is exactly the type of company Ardian’s Expansion team was built to partner with: a European technological champion led by an exceptional management team that has built one of the largest BMS R&D organization globally.  A BMS is the brain of a battery, and with its proprietary, highly reliable and secure system, Munich Electrification is best positioned to benefit from the overall electrification trend while supporting European technological sovereignty. Commercial vehicle electrification and the rapid build-out of utility-scale energy storage are among the most sustainable growth themes currently observable. We are providing additional capital alongside this transaction to accelerate the company’s development pipeline and geographic expansion, and we look forward to supporting Georg and his team as they build Munich Electrification into the global leader for battery technology.” Max Dolata, Managing Director Expansion, Ardian

List of Participants

  • Ardian

    • Max Dolata, Marc Abadir, Steffen Prochazka, Bastian Spleiter

  • Advisors to Ardian Expansion

    • M&A Advisory: LSJ Advisory
    • Commercial DD: Kearney
    • Financial DD: PwC
    • Tech DD: FEV Consulting
    • Legal DD & M&A Lawyers: Milbank
    • Financing Lawyers: Willkie Farr & Gallagher
    • Tax DD and Structuring: Taxess

  • Advisors to Munich Electrification

    • M&A Advisory Founders: JP Morgan
    • Legal Advisor Founders: Sullivan & Cromwell
    • Legal Advisor Management: Bird & Bird
    • Financial & Tax DD: Grant Thornton

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

ABOUT MUNICH ELECTRIFICATION

Battery Technology Made in Europe – Munich Electrification GmbH (ME) has been developing Battery Management Systems (BMS) and sensor technology for electric mobility and stationary battery energy storage systems (BESS) since 2014. ME covers the entire spectrum with hardware and software – from cell monitoring and current sensing to functional safety.
In the automotive sector, ME systems are used in series vehicles by leading OEMs. The BMS platform supports voltages up to 1,000 V and is designed for rapid adaptability to diverse battery architectures.
For high-voltage BESS applications up to 1,500 V DC, ME provides the technology necessary for stable grid operations, effective peak shaving, and the transition to renewable energy. High measurement accuracy and remote monitoring enable operators to reliably monitor the state throughout the entire life cycle.

www.munichelectrification.com

Media Contacts

Ardian

Headland

ardian@headlandconsultancy.com 

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CVC DIF agrees sale of Klara Renewables to Actis

CVC|DIF
  • Klara Renewables is a portfolio of six operational onshore wind farms in Poland with a combined installed capacity of 171 MW, generating approximately 500 GWh of clean energy each year
  • CVC DIF acquired all six projects at ready-to-build stage in 2020 and 2021 and managed them successfully through procurement, financing and construction into operation
  • The portfolio benefits from 15-year contracts for difference with the Polish government, and has delivered approximately 99% technical availability
  • This exit underscores CVC DIF’s clear focus on returning capital to investors, supported by the expertise of its dedicated Divestments team

CVC DIF, the infrastructure strategy of leading global private markets manager CVC, is pleased to announce that DIF Infrastructure VI (“DIF VI”) has signed an agreement to divest Klara Renewables, a portfolio of six operational onshore wind farms in Poland, to Actis, a leading global investor in sustainable infrastructure.

Klara Renewables comprises six operational onshore wind farms, with a combined installed capacity of 171 MW generating approximately 500 GWh of clean energy each year. Revenues are supported by 15-year contracts for difference with the Polish government, securing fixed prices for a significant portion of expected annual generation.

CVC DIF, through its DIF VI fund, acquired all six projects at ready-to-build stage in 2020 and 2021 and successfully managed them through procurement, financing and construction into full operation. Under CVC DIF’s ownership, the portfolio has delivered approximately 99% average technical availability, underpinned by commercially proven Vestas turbine technology, long-term operational support arrangements and a dedicated local management team. The divestment represents a successful full-cycle outcome for DIF VI, materialising value created through CVC DIF’s active asset management while supporting the continued build-out of renewable generation in Poland.

Andrew Freeman, Partner and Head of Divestments at CVC DIF, commented: “We are delighted to announce the divestment of Klara Renewables, a high-quality portfolio that we have taken from ready-to-build to full operation. This transaction is a strong example of the value our hands-on asset management approach can create, delivering attractive returns for our investors while advancing the energy transition in Central and Eastern Europe.”

The sale of Klara Renewables continues CVC DIF’s programme of disciplined divestments to return capital to investors and deliver strong returns, supported by the combined expertise of its Investment and dedicated Divestments teams.

CVC DIF was advised on the transaction by PwC (financial) and Dentons (legal).

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SK and KKR Launch Korea’s Largest Renewable Energy Platform

KKR

New renewable energy platform with ~1.7GW of capacity in operation – and a pipeline that brings total capacity to 10GW – to meet Korea’s surging clean-power demand from AI data centers and semiconductor manufacturing

SEOUL, South Korea–(BUSINESS WIRE)– SK Inc. (“SK”) and KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR and SK will launch Korea’s largest renewable energy platform valued at KRW 2 trillion (~$1.3 billion). Through this newly established platform (“Platform”), SK and KKR will bring together renewable energy assets previously held by SK affiliates spanning solar, onshore and offshore wind, and fuel cells into a single, integrated platform, tapping into each company’s respective operational experience and renewables investment expertise.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260625373798/en/

The launch of the Platform marks the latest transaction between KKR and SK, deepening a longstanding relationship built across multiple collaborations. It will help Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs. KKR will have management control of the platform in its initial phase, with SK participating as an equity investor and retaining the flexibility to pursue control rights through future discussions.

By bringing together renewable businesses and assets from SK Innovation, SK ecoplant, and SK eternix, the Platform integrates the entire value chain, from development and construction through to operation and maintenance, enhancing economies of scale and operational efficiency. The Platform will manage a portfolio covering all areas of renewable energy generation – except hydrogen – including solar, offshore and onshore wind, and fuel cells.

The Platform will be Korea’s largest renewable energy business, with approximately 1.7GW of capacity currently in operation and a development pipeline that will bring the total capacity to 10GW, which is capable of simultaneously and continuously powering 100 large-scale, 100MW-class data centers. At this scale, the Platform is well positioned to become a reliable, large-scale source of clean power for Korea’s most demanding industrial users, from AI data centers to global semiconductor production lines, and more.

Keith Kim, Partner at KKR, commented, “We are delighted to work alongside SK, a strategic partner with deep local operational capability. Korea is one of Asia’s most attractive renewable energy markets, underpinned by strong corporate demand for clean power from the semiconductor, data center, and manufacturing sectors. Together, we are establishing a leading, scaled renewable energy platform that can supply reliable clean power to Korea’s most demanding industrial users.”

SK is integrating these renewable energy businesses as part of a proactive portfolio rebalancing aimed at strengthening their sustainability and competitiveness. By combining the capital strength of a global fund with SK’s execution capability, SK aims to respond to surging clean energy demand and build a sustainable growth model over the long term.

KKR is making this investment primarily from its Asia Pacific infrastructure strategy. KKR is one of the most active infrastructure investors globally, with over $100 billion in infrastructure assets under management and more than $31 billion invested into energy transition and renewables infrastructure since 2011. Across Asia Pacific, KKR has invested behind the region’s energy transition through platforms such as Serentica Renewables, a clean-energy platform delivering power to large-scale industrial users in India; CleanPeak Energy, a distributed-energy platform in Australia; and Zenith Energy, an off-grid energy solution platform in Australia.

SK plans to use the launch of the Platform as an opportunity to strengthen the foundation and support the growth of its renewable energy business, while continuing to restructure its portfolio in a direction that enhances capital efficiency and business competitiveness.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About SK Inc.
SK Inc. is the holding company of SK Group, with approximately 150 subsidiaries including SK Hynix, SK Innovation, SK Telecom, SK Square, SKC, SK Ecoplant, and SK Networks. SK Inc. leads value-up initiatives such as maximizing profitability, optimizing investment assets, and strengthening cash flow management to reinforce the fundamental competitiveness of its subsidiaries. In addition, SK Inc. is actively reshaping its portfolio to ensure optimal business alignment and maximize synergies across the group. Through ESG management, which is SK’s distinctive strength, SK Inc. is taking the lead in pursuing social value and in line with the entrepreneurial spirit and corporate role that society demands, SK Inc. continues to drive sustainable growth and create stakeholder value through relentless challenge and innovation, even amid a rapidly changing global business environment.

Media Contacts

For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

James Jarman
+65 8870 6452
James.Jarman@kkr.com

For SK Inc.:
Dong Hoon Kim
dhkim3412@sk.com

Jae Seok Heo
js.heo@sk.com

Source: KKR and SK Inc.

 

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KKR to Acquire EDF power solutions’ North American Operations for $4.2 Billion

KKR

Acquisition of Leading Provider of Low-Carbon Energy Solutions Represents KKR’s Largest Individual Investment in the Renewables Sector

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has agreed to acquire the operations and assets of EDF power solutions in the United States (EDF power solutions Inc.) and Canada (EDF power solutions Canada Inc.) from EDF group, one of the world’s largest power producers. This transaction values the equity interest in EDF power solutions Inc. and EDF power solutions Canada Inc. at approximately $4.2 billion, with potential additional payments of up to $0.39 billion. Collectively, these businesses represent EDF power solutions’ North American renewable operations.

EDF power solutions North America is among the top ten owners of renewable energy capacity in the United States, with a nearly 40-year track record of delivering clean energy solutions across the U.S. and Canada. The company owns and operates a diversified portfolio of solar, wind, and battery storage assets across multiple geographies and manages an integrated platform spanning project development, construction, and long-term operations and maintenance (O&M) and asset management. EDF power solutions North America serves a broad base of utilities, corporations, and institutional customers.

Under KKR’s ownership, EDF power solutions North America will have the resources and strategic support to expand its asset base, enhance operational performance, and accelerate its development pipeline.

“With power demand anticipated to increase in the United States due to the rapid expansion of data centers, manufacturing reshoring, and broader electrification, KKR’s investment in EDF power solutions North America supports the critical need for affordable power,” said Cecilio Velasco, Managing Director, KKR. “EDF power solutions North America’s scale, operational track record, and integrated capabilities position it to meet that demand, particularly through its diversified portfolio and project pipeline. We look forward to supporting the platform’s continued growth and ultimately the United States’ broader energy security and affordability goals.”

KKR brings deep expertise and a proven track record investing in renewables, having deployed more than $26 billion globally across renewables and energy transition investments to date. KKR is funding this transaction from its global infrastructure strategy. The transaction is subject to customary closing conditions and regulatory approvals.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media:

KKR
Liidia Liuksila
media@kkr.com

Source: KKR

 

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CapMan Real Estate completes Scandinavia’s largest integrated solar roof at Stationsparken, Glostrup

Capman

Stationsparken - Solar Roof after

CapMan Real Estate announces the completion of the landmark solar roof project at Stationsparken in Glostrup, Denmark — marking the final step in a large-scale transformation that positions the property at the forefront of renewable energy solutions in the Nordics.

The project replaces the building’s aging roof with 10,500 fully active integrated solar panels across 7,500 m², creating Scandinavia’s largest integrated solar roof of its kind. Unlike traditional addon panels, the new system is seamlessly built into the roof structure, preserving the building’s architectural integrity while significantly boosting its environmental performance.

A futureproof investment for long-term energy efficiency

The integrated solar roof will generate approximately 589,000 kWh of renewable electricity annually, covering over 60% of the building’s electricity demand. As a result, Stationsparken is expected to reduce its carbon emissions by 82 tonnes per year, equivalent to 3,300 tonnes of CO₂ over the system’s 40-year lifespan.

The investment also significantly enhances the property’s energy performance, improving its EPC rating from B to A and reducing total primary energy demand by 37%.

Financially, the project delivers strong returns by reducing annual operating expenses, positioning the asset as both environmentally and economically resilient.

Collaboration across the value chain

The solar roof project was delivered in partnership with Solar Lightning Consultants, Solartag, WERK Arkitekter, and Hovedstadens Bygningsentreprise, with close engagement from the Municipality of Glostrup and key public-sector tenants.

All solar panels and inverters were manufactured in Europe to support high quality standards and safeguard supply chain responsibility.

“From the beginning, this project has been a model of constructive cooperation between the municipality, CapMan, and all partners involved. We are proud to see such an ambitious renewable energy solution implemented right here in Glostrup,” says Søren Enemark, Chairman of the Environment, Technology, and Property Committee at Glostrup Municipality.

The installation process was executed across six phases, ensuring uninterrupted operations for tenants throughout the construction period.

A milestone for Nordic real estate

“Stationsparken proves that sustainability and strong returns can coexist,” says Anna Rannisto, Sustainability Director at CapMan Real Estate. “By integrating solar technology into the building’s design, we’ve secured long-term energy independence and reduced emissions – without compromising aesthetics or financial performance.”

“Completing the integrated solar roof at Stationsparken is a milestone not only for the asset, but for how we approach sustainable upgrades across our portfolio. The team has delivered a highly technical project with precision, all while maintaining full tenant operations. It shows what’s possible when innovation, engineering excellence, and long-term asset planning come together,” says Peter Gill, Head of CapMan Real Estate Denmark

The completion of the solar roof marks the final milestone in CapMan Real Estate’s ambition to future‑proof Stationsparken and showcase how the Nordic real estate sector can lead the transition to renewable energy.

For more information:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, +45 20 43 55 63

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

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Ardian Clean Energy Evergreen Fund (ACEEF) Enters German Renewables Market with Anchor Onshore Wind Investment

Ardian

ACEEF acquires onshore wind project portfolio totalling 132 MW of capacity in Saxony, marking the fund’s first investment in Germany
• Anchor transaction designed to build and scale a renewables platform in Europe’s largest renewable energy market
• Geographic expansion in line with the fund’s investment strategy dedicated to financing renewable assets and energy transition in Europe

Ardian, a global private investment firm, announces that Ardian Clean Energy Evergreen Fund (ACEEF) has completed its first investment in Germany with the acquisition of a greenfield onshore wind project portfolio located in Saxony, representing a total installed capacity of 132 MW once constructed.

This investment reinforces Ardian’s commitment to advancing renewables energy infrastructure across Europe and is intended to serve as an anchor for the progressive build-out of a broader German renewables platform through disciplined follow-on acquisitions, including complementary mature renewables technologies.

The portfolio is to benefit from 100% contracted revenues for 20 years under the government-backed EEG feed-in tariff framework, providing long-term cash flow visibility and minimal exposure to wind resource and power price volatility. The first project is expected to commence construction later this year (14 MW). All projects are being developed in a strategic partnership with 3Energy GmbH, a Saxony-based pure-play onshore wind developer with a long-standing track record of renewable projects (850 MW) delivered in the German market.

With this investment ACEEF marks its geographic expansion into Europe’s largest renewable energy market. The transaction provides immediate exposure to a high-quality development pipeline while offering compelling risk-mitigated revenue profile. Ardian’s infrastructure team brings significant experience in the German energy market through its longstanding partnership with EWE, one of Germany’s largest energy companies, providing deep local market insight, regulatory understanding, and operational expertise to drive value creation in Germany.

Already invested across the Nordics, Spain, Italy, France, Peru and Chile, ACEEF’s strategy is centred on building diversified, high-quality scalable platforms that deliver long-term, resilient returns while advancing the energy transition through an industrial approach.

“Germany is Europe’s largest and most mature renewable energy market, thereby a strategically significant entry point for ACEEF. It offers strong demand growth driven by electrification, and 20-year contracted revenues under the EEG regime with the German government as a creditworthy counterparty. This investment aligns perfectly with ACEEF’s strategy of building diversified, long-term renewable platforms in Europe’s most attractive markets, and positions us to capitalize on Germany’s ambitious renewable expansion over the coming decade.” Daniel Von der Schulenburg, COO and Head of Infrastructure Germany, Benelux and Northern Europe & Senior Managing Director, Ardian

“This acquisition is consistent with ACEEF’s strategy to secure high-quality contracted revenue opportunities and build scalable renewables platforms across Europe’s core markets. It diversifies the fund through the addition of a new geography while maintaining our focus on long-term, stable cash flows. The German anchor portfolio gives us an attractive entry point and a clear runway for disciplined growth through follow-on investments in onshore wind and adjacent technologies. We are well positioned to generate long-term, sustainable value for our investors.” Benjamin Kennedy, Head of ACEEF & Managing Director Renewables, Ardian

ACEEF is Ardian Infrastructure’s first open-ended clean energy fund, which was launched in early 2022 and whose fundraising reached €1.0bn at closing in July 2023. The fund offers professional investors the opportunity to enhance their exposure to renewable assets and energy transition. The fund commits to making investments with an environmental objective as described in Article 9 fund of the EU Sustainable Finance Disclosure Regulation (SFDR) and invests globally, with a focus on Europe.

ACEEF will continue to focus on core renewable technologies – namely solar, wind and hydro, as well as emerging technologies across biogas, biomass, storage and energy efficiency. ACEEF currently manages +1.5GW of operating capacity across 5 platforms.

Ardian has been a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds at Ardian, the team manages more than 10GW of clean energy capacity in Europe and the Americas.

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.

We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.

Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.

Ardian. Mastering change for lasting value.

ardian.com

Media contacts

ARDIAN

Kornelia Spodzieja – Charles Barker

ardian@charlesbarker.de+496979409040

ARDIAN

Jonas Pohl – Charles Barker

ardian@charlesbarker.de+496979409024

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Schroders Greencoat acquires Dutch biomethane platform from SWEN Capital Partners and APF BV

Schroders Capital

Schroders Greencoat, the specialist renewables and energy transition infrastructure manager of Schroders Capital, on behalf of its global strategy and semi-liquid funds, has acquired a 100% stake in APF Energy, a growing biomethane platform in the Netherlands, from SWEN Capital Partners through its direct impact strategy, SWEN Impact Fund for Transition, and APF BV.

The platform currently comprises six assets, including three fully operational sites and three at construction stage, plus a late-stage pipeline. These generate biomethane from a feedstock mix of agriculture manure and food by-products, addressing nitrate challenges associated with the Netherlands’ livestock industry.

The country’s high volume of agricultural feedstock, combined with one of the densest gas distribution networks in Europe, makes it a particularly attractive market for biomethane development. As a direct substitute for natural gas that can be injected into existing grid infrastructure, biomethane has an important role to play in reducing Europe’s dependence on fossil fuel imports and strengthening energy security across the region.

Alongside its established capabilities in renewables and energy transition aligned infrastructure, Schroders Greencoat has developed expertise in the European anaerobic digestion and biofuels sector having made and realised investments in the UK and Germany in recent years. This track record is key to the aim of delivering strong returns for investors in what is an important component of the shift to a low-carbon system.

Minal Patel, Global Head of Infrastructure at Schroders Capital said:

“Biomethane has an increasingly important role to play in the European energy transition, particularly in sectors where other low-carbon solutions are less readily available.

“The Netherlands is one of the more advanced markets due to its mature regulatory framework, strong policy support for renewable gas and well-established infrastructure. This platform gives us a strong foothold from which to apply the expertise we have built across our bioenergy portfolio.”

James Reid, Investment Director, Schroders Greencoat said:

“This transaction is an example of our focus on established platforms with operational assets, a clear development pathway for pipeline assets and exposure to a segment of the energy transition where the structural case is compelling. We look forward to working closely with APF Energy’s management team to continue scaling the platform and drive forward the decarbonisation of the Dutch energy system.”

Marco Middelkoop, CEO, at APF Energy said:

“APF Energy would like to sincerely thank SWEN Capital Partners and APF BV for their support and trust throughout the development of APF Energy, which has enabled us to build the platform to its current stage of maturity. We are delighted to welcome Schroders Greencoat as our new shareholder and look forward to working closely together to further scale the platform, optimise operations and accelerate the contribution of biomethane to the Dutch energy transition.”

François Pasquier, Managing Director and Grégoire Allemandou, Principal at SWEN CP said:

“We are delighted to have supported APF Energy since the early stages of its development, helping to build a robust and growing biomethane platform in the Netherlands. Schroders Greencoat’s deep expertise in bioenergy and energy transition infrastructure makes them the great partner to take the platform to its next stage of growth. We are also particularly pleased that this transaction marks the first exit from our second vintage, SWEN Impact Fund for transition 2 (SWIFT 2), reflecting our strategy of backing high-quality platforms in the renewable molecules sector.” 

Schroders Greencoat was advised by Voltiq (M&A) alongside Eversheds (legal), PWC (financial and tax), Haskoning (technical) and PA Consulting (commercial).

SWEN Capital Partners was advised by Green Giraffe Advisory (M&A) alongside Clifford Chance (legal), Deloitte (financial and tax) and DNV (technical and commercial).

For further information, please contact:

Jessye Brandon, PR Manager

+44 207 658 3789

jessye.brandon@schroders.com

Sodali & Co, Schroders Capital PR

schroderscapital@sodali.com

Lola Fornari, Head of Communication, SWEN CP

+33 6 49 87 28 35

lfornari@swen-cp.fr

Note to Editors

To view the latest press releases from Schroders visit: Media Centre | Schroders global

To view the latest press release from SWEN CP visit: SWEN CP | A responsible investor in private markets

Past performance is no guarantee of future results.

About Schroders Greencoat

Schroders Greencoat is the specialist energy transition infrastructure manager of Schroders Capital, the global private markets arm of Schroders Group. Founded in 2009, it is one of the most established and largest pure-play energy transition managers in Europe*, with a 15+ year track record and team presence in key locations across Europe and the US. Schroders Greencoat manages around $12.5 billion across a range of funds and mandates investing across the energy transition in the UK, Europe, US and Asia**, through which it manages more than 445 assets with a net generation capacity in excess of 7.8GW.

For more information, please visit https://www.schrodersgreencoat.com.

* Infrastructure Investor Rankings (2024) – Top 50 largest infrastructure managers based on capital raised between 2019-2024.

** As of 31 December 2025, Figures include two assets in construction or under forward purchase agreements. Inclusive of 125 assets for which management was transferred over from two other managers. Assets in APAC are advised by Schroders Greencoat and managed by Schroders Investment Management (Hong Kong) Limited.

Schroders Capital

Schroders Capital provides investors with access to a broad range of private market investment opportunities, portfolio building blocks and customised private market strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private market mandates.

The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity.

With $111.8 billion (£83.1 billion; €95.2 billion)* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).

*Assets under management as at 31 December 2025 (including non-fee earning dry powder and in-house cross holdings)

About SWEN Capital Partners

As a leading player in responsible investment in Private Equity, Infrastructure and Mezzanine Debt, SWEN Capital Partners managers, advises on, or oversees €16 billion in assets* and brings together a team of over 120 dedicated professionals. The management company is owned by Ofi Invest, a brand of Aéma Groupe (Macif, Abeille Assurances holding, AESIO Mutuelle), as well as by approximately fifth employees grouped within the holding company SWEN Managers. Since its inception, SWEN CP has made sustainable finance the driving force behind its growth, offering its clients responsible, innovative and forward-looking investment solutions.

Having become a Mission-Driven Company in February 2024, the firm has a clear ambition: to put investment at the service of Nature through sincere commitments, concrete actions, and the mobilization of all its teams and its ecosystem.

*Total amount of commitments as of January 1, 2026. The amounts include collective management, third-party management (management mandates), regulated services (investment advice and RTO), and unregulated services (portfolio supervision).

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KKR Announces Strategic Partnership With RWE to Realise UK Offshore Windfarms

KKR

Project to deliver c.3GW of new UK offshore wind capacity and support national decarbonisation goals

LONDON & ESSEN, Germany–(BUSINESS WIRE)– KKR, a leading global investment firm, and RWE, one of the global leading renewable energy companies, today announced a strategic partnership to jointly realise RWE’s UK Norfolk Vanguard East and Norfolk Vanguard West offshore wind projects. The two new wind farms will have a combined generation capacity of approximately 3GW.

KKR and RWE will establish a 50:50 joint venture to build and operate the two windfarms, which require over $15bn of total development and capital expenditure to make the windfarms operational by 2029 and 2030 respectively. Together, the offshore wind projects are expected to be able to power over 3 million UK homes with clean energy, further contributing to the UK government’s goal of doubling offshore wind capacity over the next 10 years.

A leading supplier of renewables with a 125-year history in electricity production, RWE has a broad portfolio of renewables and flexible generation capacity, and is Germany’s and the UK’s largest power producer. RWE is the second largest player in offshore wind globally, and owns 19 operational offshore wind farms throughout Europe.

Offshore wind is a key pillar of the UK’s energy system, supplying around 20% of the country’s electricity and underpinning the target of reaching up to 50GW of capacity by 2030. The new windfarms will be located approximately 50 to 80km off the UK’s East Anglia coast in the North Sea and will comprise 184 turbines, offshore substations, and a connection to the National Grid.

Commenting on the announcement, Vincent Policard, Co-Head of European Infrastructure at KKR, said: “We are delighted to be forming this strategic partnership with RWE, a proven leader in offshore wind with an exceptional track record of developing high-quality projects. This investment underscores our conviction in the long-term importance of UK renewables and the central role offshore wind will play in advancing the country’s energy transition. By leveraging our complementary strengths – RWE’s world-class development expertise and KKR’s expertise in investing and owning large scale construction and renewable projects – we are helping deliver a significant addition to the UK’s future offshore wind capacity and support the UK in its decarbonisation journey.”

Sven Utermöhlen, CEO of RWE Offshore Wind: “We are pleased with the successful outcome of AR7 and are delighted to join forces with KKR as our strategic partner in the Norfolk Vanguard East and Norfolk Vanguard West offshore wind projects. By combining KKR’s investment know-how in large-scale, complex infrastructure projects with RWE’s extensive offshore wind expertise, we are well positioned to jointly realise these major projects.”

Shreya Malik, Managing Director in KKR’s European Infrastructure team, added: “KKR has built one of the largest renewable energy portfolios globally with a pipeline of over 50GW across its portfolio. We bring a full operational and financing toolkit that is designed to support the delivery of large-scale renewable projects alongside strategic partners like RWE. Our partnership model combines KKR’s know-how in executing on large scale complex infrastructure projects with leading industrial capabilities to accelerate the build-out of critical clean-energy infrastructure. RWE is one of the most respected offshore wind developers, and we are proud to partner with them on this milestone project.”

KKR has extensive experience in investing behind the energy transition with a strong focus on renewable and transition-related assets globally. Since 2011, KKR’s Infrastructure platform has committed more than $31 billion into energy transition and renewables infrastructure globally. KKR’s portfolio also includes over 10 renewable energy developers. In 2024, KKR invested in Encavis, a German renewable energy platform that owns and operates a diversified portfolio of onshore wind farms across multiple European countries. Previous investments have also included the acquisition of a controlling stake in European renewables developer Greenvolt, and a majority equity investment in U.S. solar and storage developer Avantus.

Both projects have received an allocation for Contract for Difference in the UK’s Allocation Round 7 awards, announced today. The completion of the transaction is subject to customary closing conditions.

KKR is funding the investment through capital accounts advised by KKR.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About RWE

RWE is leading the way to a modern energy world. With its investment and growth strategy, RWE is contributing significantly to the success of the energy transition and the decarbonisation of the energy system. Around 20,000 employees work for the company in almost 30 countries worldwide. RWE is one of the leading companies in the field of renewable energy. RWE is investing billions of euros in expanding its generation portfolio, in particular in offshore and onshore wind, solar energy and batteries. It is perfectly complemented by its global energy trading business. Thanks to its integrated portfolio of renewables, battery storage and flexible generation, as well as its broad project pipeline of possible new builds, RWE is well positioned to address the growing global demand for electricity, particularly driving by further electrification and artificial intelligence. RWE is decarbonising its business in line with the 1.5-degree reduction pathway and will phase out coal by 2030. RWE will be net zero by 2040. Fully in line with the company’s purpose – Our energy for a sustainable life.

For more information contact Liidia Liuksila (KKR) at media@kkr.com.

Source: KKR

 

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Low Carbon secures landmark investment from CVC DIF to drive the next stage of growth

CVC Capital Partners

The new investment from CVC DIF will help Low Carbon to deliver multiple GWs of renewable energy in the company’s journey to become a leading, pan-European Independent Power Producer (IPP)

Leading renewable energy company Low Carbon has secured a landmark investment from CVC DIF, the infrastructure strategy of leading global private markets manager CVC.

CVC DIF’s investment, when combined with follow-on investment from existing shareholder MassMutual, the refinancing of existing project finance debt and raising of a Holdco facility, will secure c. £1.1 billion of committed capital for Low Carbon.

CVC DIF will commit primary equity (common and preferred) resulting in a majority controlling stake in the company. The investment will enable Low Carbon to significantly expand its installed capacity and drive the next stage of its growth as a diversified, leading next-generation IPP, making a lasting impact on the UK and Europe’s ongoing energy transition.

Quotes

We are excited to partner with Low Carbon, a best-in-class renewable energy company. This investment reflects our shared conviction in the critical role renewables will play in the energy transition.

Caine BouwmeesterPartner and Head of Renewable Energy at CVC DIF

Last year the UK government set out its Clean Power 2030 plan which will involve doubling onshore wind capacity and trebling solar PV, which will require £40 billion of investment each year. Similarly, the European Union recently set a new target of 42.5% renewable energy. This new partnership between CVC DIF, its investors and Low Carbon will allow the company to remain at the forefront of this transition to a clean, secure and affordable electricity sector in the UK and across Europe.

With a 16 GW pipeline and 1 GW of highly contracted operational and in construction asset base, the new capital from CVC DIF will help to grow Low Carbon’s presence across core markets including the UK, Germany, and Poland, where it aims to bring a 3 GW portfolio of operational utility-scale solar, onshore wind, battery storage and co-located assets into operations in the coming years.

It also demonstrates confidence in the expertise of Low Carbon’s team across the value chain of 170 people to develop, construct and operate world-class renewable infrastructure by leveraging its in-house AI technology platform to optimise its assets and returns, essential to long-term value creation.

CVC DIF brings significant renewable energy experience to this new partnership, with a dedicated sector specialist team and having invested in a diverse portfolio of assets and platforms across wind, solar, hydropower, BESS and biogas. It has a proven 20-year track record of value creation within this sector and can also leverage the strength and depth of the broader CVC network, providing on-the-ground local market expertise and insights.

MassMutual, a significant shareholder in Low Carbon after forming a strategic partnership in 2021, will continue to support the growth of the business with additional investment and will work closely with CVC DIF to accelerate the build out of Low Carbon’s renewables pipeline.

Founder and Chief Executive of Low Carbon, Roy Bedlow, commented “I would like to thank CVC DIF and their investors for the confidence they have placed in Low Carbon and our ability to develop, build and operate high-quality renewable assets in the UK and Europe. In addition, MassMutual’s continued investment in Low Carbon underlines our shared ambition of delivering long-term value across the full investment cycle of renewables that will help accelerate our goal to deploy renewable energy at scale to help tackle climate change.”

Caine Bouwmeester, Partner and Head of Renewable Energy at CVC DIF, added: “We are excited to partner with Low Carbon, a best-in-class renewable energy company which we have known well for more than a decade. This investment reflects our shared conviction in the critical role renewables will play in the energy transition. Low Carbon’s talented team, strong culture, and disciplined development strategy position it to lead the next phase of growth in the sector. Together with Roy, his team, MassMutual, and our highly supportive co-investors, we look forward to building on this momentum and generating attractive risk adjusted returns for our investors.”

Drew Dickey, Head of Alternative Investments at MassMutual, added: “Significant strides have been made since our original investment in Low Carbon to distinguish it as a top performing renewable energy company. We welcome the combination of capital and experience that CVC DIF brings to Low Carbon, which will provide important leadership to the buildout of our ambitious pipeline of renewable energy projects.”

The CVC DIF investment will be made through DIF Infrastructure VIII (“DIF VIII”) and is expected to close during the fourth quarter of 2025, subject to customary closing conditions.

Evercore acted as advisers for Low Carbon on the transaction.

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Apollo Funds Commit $6.5 Billion to Ørsted’s Hornsea 3 in the UK

Apollo logo

Apollo Infrastructure to Become 50-50 Joint Venture Partner in World’s Largest Offshore Wind Farm Project

NEW YORK , Nov. 03, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds have agreed to invest $6.5 billion in a 50% stake in Ørsted’s Hornsea 3. The $6.5 billion investment includes the acquisition price for a 50% interest in the joint venture holding Hornsea 3, the world’s largest offshore wind project, and a commitment to fund 50% of the project’s remaining construction costs.

Hornsea 3 is Ørsted’s third gigawatt-scale project in the North Sea’s Hornsea zone and upon completion it will have a capacity of 2.9GW – enough power to generate low-cost, renewable electricity for more than 3 million UK households. As part of the agreement, Ørsted will continue to construct the wind farm under a full-scope EPC contract and will provide long-term operations and maintenance services as well as route-to-market for power generation.

Apollo Infrastructure Partner Adam Petrie said, “Ørsted is a global leader in offshore wind power and Hornsea 3 is its most significant project yet, with capacity to bring reliable, renewable energy to millions of homes across the UK. Through this investment, we are proud to deliver a scaled and comprehensive solution for infrastructure that will promote energy security and the UK’s net zero ambitions.”

Ørsted Group CFO Trond Westlie said, “We’re pleased to welcome Apollo as a partner for Hornsea 3, as they bring infrastructure expertise and scaled capital. We look forward to working with them to deliver this important project that will produce enough electricity to power more than 3 million UK homes once completed and contribute to the renewable transformation of the UK. The divestment represents an important milestone for Ørsted as we continue to deliver on our partnership and divestment program, which is a cornerstone of our business plan.”

Apollo Partner and Co-Head of European Credit Leslie Mapondera said, “At Apollo, we look to serve as a scaled provider of long-term and flexible capital solutions for leading companies and infrastructure. We are pleased to partner with Ørsted on this transaction where Apollo Fund capital can help to power over 3 million UK homes. This is the latest large-scale transaction here in Europe where we are investing behind energy infrastructure, transition assets, AI and other key priorities.”

The Hornsea 3 transaction is subject to regulatory approvals and anticipated to close before year-end 2025. The Apollo Funds are expected to invest approximately $3.25 billion upon close, with the remaining $3.25 billion to be funded as the project reaches certain construction and development milestones in the coming years.

Ørsted chose to partner with Apollo in part for its ability to deliver a long-term, comprehensive equity and financing solution for the large-scale infrastructure project. The transaction’s senior financing is being led by Apollo-managed entities, and the bank facilities have been underwritten by BNP Paribas, ING Bank, Lloyds and RBC Capital Markets. Co-investors include La Caisse, formerly CDPQ, which has committed to the transaction across both equity and debt, and PSP Investments, which has committed to the transaction’s debt financing.

The investment in Hornsea 3 follows a series of recent large-scale capital solutions Apollo Funds have provided for European energy infrastructure, including a €3.2 billion investment to support expansion of the German energy grid, a £4.5 billion financing commitment to EDF for its Hinkley Point C nuclear power plant, and more than $4.5 billion of investments with BP, including non-controlling interests in its TANAP and TAP pipelines.

Linklaters LLP are acting as legal counsel to the Apollo Funds and RBC Capital Markets as financial advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as lenders counsel in the transaction.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com / EuropeanMedia@apollo.com

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