Antin to Become New Majority Shareholder in Blue Elephant Energy
02 August 2022 - 04:30PM
Business Wire
- Blue Elephant Energy is a fast-growing renewable energy
platform with around 1.3GW of contracted capacity and operating in
markets with highly attractive growth opportunities
- Going forward, Antin will support Blue Elephant Energy to
realise the significant potential in the fast-growing renewable
energy market
- Management team as well as founding and major shareholders
will remain on board
- Blue Elephant Energy will be the first investment of Antin’s
Fund V
Regulatory News:
Antin Infrastructure Partners (“Antin") (Paris:ANTIN) and Blue
Elephant Energy AG (“BEE”) announce that Antin’s Flagship Fund V
will become the renewable energy company’s new majority shareholder
to support its growth strategy.
The Hamburg-based company is a renewable energy platform focused
on developing, acquiring, and operating solar and wind farms across
Europe as well as in Latin America. Since its inception in 2016,
BEE has demonstrated strong growth, enabled by its fast-scaling
platform. The company operates 67 solar and 13 wind power plants in
eight countries with a power generation capacity of around 1.3 GW
and has already secured a significant and highly visible
pipeline.
BEE benefits from the global energy transition, which is driving
significant structural growth in renewable energy markets. As part
of its latest energy policy amendment, the German government has
set itself the goal to increase the share of renewable energy to at
least 80% of gross electricity consumption by 2030, which requires
significant buildout of solar and wind capacity. The European Union
has also committed to reducing its CO2 emissions by at least 55% by
2030 and is aiming for climate neutrality by 2050. Against this
background, Antin will support BEE’s experienced management team to
unlock the company’s full potential within the fast-growing
renewable energy market. BEE has a proven and highly scalable
business model and the strategic partnership with Antin will allow
the company to drive organic growth and significantly expand its
international generation capacity. BEE is consistently expanding
its development portfolio of solar and wind projects, while also
exploring new opportunities in adjacent segments.
Felix Goedhart, founder and CEO of BEE, stated: “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. This will bring us
an important step closer to the crucial goal of helping to drive
the energy transition and creating a greener future.”
In addition to the management team, the founding and major
shareholders Blue Elephant Venture GmbH, Jahr Assetmanagement GmbH
and ATHOS also remain on board at BEE, thus sending a strong signal
of consistency and continuity.
Dr. Peter-Alexander Wacker, co-founder and Chairman of the
Supervisory Board at BEE and holder of a stake in the company via
Blue Elephant Venture GmbH, states: “With Antin we welcome another
strong and long-term oriented partner to BEE. The international
know-how as well as the financial strength of our new partner will
help us to continue the success story of BEE in the future.”
Stéphane Ifker, Senior Partner at Antin, commented: “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. 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 will be the first investment of Antin’s Fund V. The parties
have agreed not to disclose the financial details of the
transaction, which is expected to close in Q4 2022. The transaction
remains subject to obtaining customary regulatory clearances.
Antin was advised by Goldman Sachs (financial adviser), Latham
& Watkins (legal adviser), Afry (commercial, technical and
ESG), KPMG (financial, tax and IT) and Marsh (Insurance). BEE and
its shareholders were advised by BNP Paribas (financial adviser)
and CMS (legal adviser). Blue Elephant Venture GmbH was advised by
Baker Tilly (legal counsel) and ATHOS by honert (legal
counsel).
About Blue Elephant
Energy
BEE develops, acquires, and operates solar parks and wind farms
in eight countries with a focus on Western and Central Europe
(Germany, France, Greece, Italy, the Netherlands and Spain) with
some exposure to Latin America. Founded in 2016, BEE is currently
operating a renewable energy portfolio of c.1.3GW of contracted
capacity. BEE´s renewable energy assets contribute to sustainable
energy supply by saving 506,000 tons of CO2 annually and providing
359,000 households with clean energy in 2021. As part of its ESG
strategy, BEE directly contributes to social projects on a local
level, particularly in Chile and in the Dominican Republic.
For more information, please visit:
https://blueelephantenergy.com/
About Antin Infrastructure
Partners
Antin Infrastructure Partners is a leading private equity firm
focused on infrastructure. With over €22 billion in assets under
management across its Flagship, Mid Cap and NextGen investment
strategies, Antin targets investments in the energy and
environment, telecom, transport, and social infrastructure sectors.
With offices in Paris, London, New York, Singapore and Luxembourg,
Antin employs over 190 professionals dedicated to growing,
improving, and transforming infrastructure businesses while
delivering long-term value to portfolio companies and investors.
Majority owned by its partners, Antin is listed on Euronext Paris
(Ticker: ANTIN – ISIN: FR0014005AL0).
For more information, please visit: https://www.antin-ip.com
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version on businesswire.com: https://www.businesswire.com/news/home/20220801005916/en/
Media Contacts
Antin Infrastructure Partners Nicolle Graugnard,
Communication Director Email: nicolle.graugnard@antin-ip.com
Ludmilla Binet, Head of Shareholder Relations Email:
ludmilla.binet@antin-ip.com
Alexa von Dryander (Brunswick Group) Email:
adryander@brunswickgroup.com Tel.: +49 (0)172 688 7385
Blue Elephant Energy Claudius Krause (Cometis) Email:
Krause@cometis.de Tel.: +49 (611) 205855-28
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