France-based private equity firm Antin Infrastructure Partners has agreed to acquire a majority stake in German renewable energy platform Blue Elephant Energy (BEE).
Established in 2016, BEE focuses on the acquisition, development and operation of solar and wind farms in Europe and Latin America.
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The company currently has 1.3GW of renewable energy capacity, which includes 67 solar assets and 13 wind projects located across eight countries.
Antin will acquire the platform via its Flagship Fund V for an undisclosed sum.
Antin senior partner Stéphane Ifker said: “We are convinced BEE is only at the start of its growth story.
“The company is uniquely positioned to play a leading role in the accelerating buildout of the renewable energy infrastructure in Germany, as well as other key markets in Europe and beyond, which is critical to meeting future energy demand.
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By GlobalData“We look forward to working with BEE’s very experienced management team and our co-shareholders to scale the company into a leading renewable energy platform.”
BEE founder and CEO Felix Goedhart said: “The partnership with Antin gives further tailwind to BEE’s dynamic development and underlines our strong position in a fragmented market, the resilience of our business model and the attractive development and growth prospects that lie ahead.
“With Antin, we have a strong and long-term oriented partner at our side with whom we will continue our development expansion into key priority markets.
“We will leverage both our long-standing and good relationships with project developers and our cooperation model for large private landowners to drive BEE’s further growth.
“In addition, we are continuously expanding our internal development capacities.”
The deal is expected to close in the fourth quarter of this year subject to customary closing conditions.
Antin focuses on investments in the energy and environment, telecommunications, transport and social infrastructure sectors, with more than €22bn ($22.3bn) currently in assets under management.
