Amsterdam, May 18, 2022 (Globe Newswire) –
- Investment marks the first infrastructure investment for OMERS in the Netherlands
- APG has further expanded its portfolio in line with ABP’s strategy of supporting innovative solutions for energy conversion.
- APG and OMERS, as active investors, plan to support Groendus’ ambitious energy transformation growth plan
(May 18, 2022) – APG and OMERS Infrastructure today announced the signing of an agreement to jointly acquire Groendus from NPM Capital. Groendus is an energy transition platform from the Netherlands that was established in 2021 through the merger of six companies in the rooftop solar, metering and energy service space. APG’s investment is made on behalf of pension fund client ABP. APG is the largest pension provider in the Netherlands; OMERS Infrastructure is investing in OMERS, one of Canada’s largest pension plans.
Groendus provides a comprehensive portfolio of ancillary services for its customers, as well as the development, construction and management of energy resources. With a team of more than 130 people in the Netherlands, Grondas has so far worked with more than 4,000 companies, municipalities and organizations and installed more than 170 MWp of solar power and more than 12,000 meters. Groendus is committed to expanding its portfolio of 300 solar projects, and hopes to offer customers a suite of growing energy transition solutions, such as EV charging and battery storage.
Alastair Hall, Europe’s Senior Managing Director and Head of OMERS Infrastructure, said: “We are thrilled to announce today our first investment in European renewable energy. At Groendus, we see an excellent opportunity for OMERS to invest in an Energy Transition Growth Platform with a clear goal to enable its commercial, industrial and public customers to decarbonize. In addition to APG, we look forward to working with Groendus’ experienced leadership team and playing an active role in helping the company continue to grow and deliver with the goal of enabling 100% clean energy for every organization and organization in the Netherlands.
APG is one of the most active global infrastructure investors and is looking for support organizations that focus on renewable energy resources and innovative solutions for energy conversion. Jan-Willem Ruisbroek, head of APG’s Global Infrastructure Investment Strategy, said: As pension investors, we are constantly looking for attractive, long-term, responsible investments. Not only do we expect a solid return, it contributes to the APG’s ambition to assist in the rapid development of energy in the Netherlands, as well as the development and scale-up of the United Nations Sustainable Development Goals. We are grateful to NPM for establishing the Groendus platform that serves as the foundation for future growth and look forward to working with the OMRS infrastructure to support Groendus’ mission and ensure long-term, stable and sustainable investment returns. For our pension fund client APB and its participants. “
Renেনে Risemakers, CEO Groendas, said: “There is an urgent need to transform conventional energy supply into a sustainable, clean energy system. Together with our clients, Groendus makes a significant contribution through its renewable energy resources, insights through smart metering data and our unique peer-to-peer sustainable energy trading platform. We build on the support of our shareholders and strong financial support. We are grateful for the huge impact that NPM Capital has had in the early years to bring six companies together on the GROUNDAS platform. We are proud of the trust that OMERS Infrastructure and APG have given to our team, which allows Grondas to accelerate its efforts to continue building an energy transition service portfolio for our customers. ”
Following the completion of the transaction, OMERS will become the fifth global investment in renewable energy, along with Azure Power (India), FRV Australia, Leeward Renewable Energy (USA) and Navisun (USA). For APG, the investment is already based on a substantial global energy transfer portfolio that follows previous investments in renewable energy resources such as Merkur (Germany) and Vasa Wind (Sweden).
APG and OMERS infrastructure were advised by Voltic, Rothschild, Latham & Watkins, Lions & Loew, Strategy &, Arcadis and YY. Subject to traditional regulatory approval, the transaction is expected to close in Q3 2022. The terms of the agreement are not being disclosed.
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About OMERS infrastructure
OMERS Infrastructure manages investment in infrastructure on behalf of OMERS worldwide, through a defined benefit pension plan for municipal employees in the Canadian province of Ontario and a strategic partnership program for third parties. OMERS Infrastructure currently has approximately C $ 32 billion in assets under management and over 30 investments, mainly in various sectors including North America, Europe and Asia-Pacific and energy, digital services, transportation and government-controlled services. OMERS Infrastructure has employees in Toronto, New York, the UK, Continental Europe (including Amsterdam, NL), Asia and Australia. More info: www.omersinfrastructure.com.
As the largest pension provider in the Netherlands, APG looks after the pensions of 4.8 million participants. APG provides executive advice, asset management, pension administration, pension communications and employer services. We work for pension funds and employers in the fields of education, government, construction, sanitation, housing associations, sheltered employment agencies, medical specialists and architects. APG manages about € 606 billion (March 2022) in pension assets. With approximately 3,000 employees we work from Hirlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.