EIP organizes a capital increase in favor of renewable energies
Funds advised by Energy Infrastructure Partners (EIP) are investing 530 million euros in BayWa re's global wind and solar park portfolio. The transaction results in a 49 percent stake for the investor consortium in a project pipeline with a capacity of 13 gigawatts.
Energy Infrastructure Partners ( EIP ), formerly Credit Suisse Energy Infrastructure Partners, organized a capital increase of 530 million euros for BayWa re. A corresponding contract was signed on Tuesday, according to a press release from EIP and another from BayWa re. The transaction leads to a 49 percent stake in one of the world's leading developers, service providers, wholesalers and providers of solutions in the field of renewable energies. In addition, according to EIP, “considerable added value” can be expected.
The Munich-based company claims to have a "very strong project pipeline" of photovoltaic systems and onshore wind systems with a capacity of 13 gigawatts in more than 20 countries, primarily in Europe, the USA and the Asia-Pacific region. BayWa re now wants to strategically develop into an independent electricity producer with a target capacity of initially 3 gigawatts by 2028, says the EIP announcement: “The partners intend to use additional capital over time to significantly expand their own renewable plant base . "
"We are pleased about this unique opportunity for our investors to participate in a comprehensive global platform for renewable energies", Tim Marahrens, Co-Head of Origination & Transactions at EIP, is quoted in the press release. He underlined the importance of the transaction in view of the ongoing market consolidation in the industry.
