Raw: [
Alternative asset and private equity investor KKR announced that it will launch a takeover offer […]]
KKR Launches $3 Billion Takeover Offer for German Renewable Energy Platform Encavis – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Energy Transition/ Private Equity & Venture Capital
KKR Launches $3 Billion Takeover Offer for German Renewable Energy Platform Encavis
Mark Segal
March 15, 2024
Alternative asset and private equity investor KKR announced that it will launch a takeover offer to acquire German renewable energy platform Encavis in a transaction valuing the equity of the company at €2.8 billion (USD$3 billion), in a move aimed at supporting the growth and development of Encavis’ project pipeline to benefit from opportunities driven by national and international clean energy expansion plans.
Encavis said that its Management Board and the Supervisory Board expressly support the offer, and will recommend its acceptance to shareholders. Germany-based family company Viessmann Group will invest as shareholder in a KKR-led consortium, and existing Encavis shareholder ABACON and other shareholders have agreed to sell around 18% and roll over around 13% of Encavis shares, with ABACON remaining an indirect shareholder in the company.
Based in Neubiberg, Germany, Encavis acquires and operates (onshore) wind farms and solar parks across Europe, with an operating capacity of 2.2 GW consisting of a portfolio of more than 190 solar photovoltaic and more than 40 onshore wind farms in 10 countries, in addition to a multi-year project pipeline.
The acquisition offer comes as clean energy capacity across Europe is set to grow significantly over the next several years, supported by EU legislation, such as the EU’s Renewable Energy Directive, which mandates that renewable energy make up 42.5% of the EU’s overall energy consumption by 2030, from approximately 22% of the EU energy mix in 2021.
According to the companies, the transaction will position Encavis as a leading German player in the energy transition, with financial support from KKR and Viessmann enabling the company to capitalize on growth opportunities in the sector, bolstering its project development pipeline, increasing its capacity, and expanding into new markets.
Dr Christoph Husmann, Spokesman of the Management Board and CFO of Encavis said:
“Over the past years, Encavis has grown into one of the leading independent power producers in Europe and has strong ambitions to further continue on this growth path. With KKR and Viessmann, we aim to bring partners on board who share the same long-term and entrepreneurial approach and extensive experience of investing behind the energy transition.”
The transaction marks the latest in a series of energy transition infrastructure-focused moves for KKR, the $1.7 billion acquisition in December of Scotland-based energy and electrifications solutions company Smart Metering Systems (SMS), a recent $750 million investment in London-based transport electrification and battery storage solutions provider Zenobē, and the launch of a series of clean energy platforms including Virescent Infrastructure in India, Aster Renewable Energy in Asia and Stellar Renewable Power targeting long-duration high-yielding solar energy investments.
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said:
“Unlocking the full potential of renewable energy requires expertise as well as substantial long-term capital. We are pleased that KKR’s strategic investment will provide Encavis with the necessary long-term financial resources at a pivotal time for the Company and position it to seize emerging opportunities and solidify its strength in the clean energy landscape. Furthermore, it also contributes to fostering a more energy-independent Europe.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Energy Transition /
U.S. Invests $750 Million in Projects to Accelerate Clean Hydrogen Production
Private Equity & Venture Capital /
Cleantech Startup Furno Raises $6.5 Million to Decarbonize Cement Production
Energy Transition /
Shell Sets 2030 Goal to Reduce Emissions from Customers’ Use of Gasoline and Diesel
‹ Google Commits to $35 Million of Carbon Removal Credits over Next 12 Months
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
RBC Adds “Decarbonization Finance” Category for Hard-to-Abate Sectors to Sustainable Finance Framework
Canada Issues $4 Billion Green Bond
Sunfire Raises $340 Million for Clean Hydrogen Production Tech
Verizon Issues $1 Billion Green Bond to Invest in Renewable Energy
Government
Google Commits to $35 Million of Carbon Removal Credits over Next 12 Months
U.S. Invests $750 Million in Projects to Accelerate Clean Hydrogen Production
EU Parliament Adopts Rules Targeting Fast Fashion by Making Producers Pay to Recycle Textiles
Biden Administration Launches Zero Emissions Infrastructure Deployment Strategy to Decarbonize Freight Sector
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy