Zak Bentley
The pair will retain the ongoing legal costs of their case against the Norwegian government after selling to private equity-backed CapeOmega.
The investment alongside PSP Investment and China Investment Corporation is said to be ‘the largest renewable energy generation acquisition in history’. The deal is part of GIP’s $15.8bn Global Infrastructure Partners III fund and its second renewables investment following its €1.2bn deal for a 50% share of the 450MW Borkum Riffgrund 2 offshore wind farm off the German coast.
As a larger number of European renewable energy projects become more exposed to power prices – and the forecasts behind them – we investigate what drives these projections and the risks investors face.
The deal marks the second investment of the group’s third fund, both of which have been in the social infrastructure sector.
The deal marks the second investment of the group’s third fund, both of which have been in the social infrastructure sector.
Infram Energy, which launched earlier this year, now has more than 95MW of capacity in its portfolio.
The flotation would place a £6bn valuation on the British telecoms company owned by CPPIB, MEIF2, IFM Investors, First State Investments and MTAA.
A second core infra vehicle will help broaden its LP base, while the planned Eurofideme-4 will seek to finance the wider energy transition.
The debut infra vehicle is targeting €700m, which will be deployed across Europe over two years – but it is likely to avoid the UK due to currency risks.
The deal is part of a wider €1bn disposal by Gas Natural Fenosa, which has exited the market due to Italy’s legal overhaul.