Global private market investment manager Partners Group is set to acquire an 80% stake in renewable energy project developer VSB Group on behalf of its clients.
According to the agreement, a significant share of the transaction will be used to fund future growth. It gives an option to retain asset ownership and develop an independent power producer (IPP).
Partners Group Private Infrastructure Europe Management member David Daum said: “VSB is very well-positioned to capitalise on increased demand for environmentally friendly sources of energy throughout Europe. We believe it has the potential to become the preeminent European renewable energy platform.
“We will work closely with the management team to realise this ambition by leveraging our experience of institutionalising businesses to accelerate the conversion and development of VSB’s renewable energy pipeline.”
The company has developed more than 1.1GW of onshore wind and solar PV generating assets and also manages over 1.4GW of wind assets.
VSB Group founder and managing director Andreas Dorner said: “VSB has enjoyed great success to-date as an independent, multinational company. However, given the vast opportunity for renewable energy, we wanted a like-minded partner to accelerate our next phase of growth.
“In Partners Group, we have found a global partner with significant operational resources and a wealth of international experience in hands-on renewable energy investment.”
Dorner will retain the remaining equity stake alongside Partners Group.
The companies have not disclosed the financial details of the deal.
In August 2019, Partners Group invested in 244MW Bango wind farm in New South Wales, Australia.
Based in Germany, VSB offers a range of services in the renewable energy value chain, including project development, asset management, as well as technical and commercial operational site management.