Equity
Our Equity strategy is focused on establishing and scaling up platforms which develop, construct, buy, and operate assets in Europe and other key OECD markets.
We apply our deep understanding of energy markets, our extensive partner network, and our capital flexibility to realise relative value and construct portfolios that are well diversified across counterparties, technologies, business models, and markets. Control positions and an active ownership approach allow us to ensure good governance, to de-risk investments, actively embed sustainability standards, realise controllable upsides and to strategically manage divestments.
Characteristics
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Growing Platforms
We build and scale platforms in partnership with locally anchored clean energy companies and management teams.
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Underpinned by Real Assets
The business models of our portfolio companies are underpinned by physical, capital-intensive energy infrastructure assets that provide essential services and generate long-term, visible cash flows with strong downside protection.
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Diversified Portfolio Construction
We ensure a high degree of portfolio diversification along multiple vectors by investing across energy transition themes, with multiple partners, into opportunities with many underlying assets at various stages of their lifecycle and applying a range of established technologies. Geographically, we focus on European (EEA, UK, Switzerland), North American, the Australian and other OECD markets.
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Proprietary, Mid-Market Deals
We provide value to investment partners through tailormade solutions which target less crowded market segments. We thus secure access to proprietary investment opportunities outside of competitive processes based on thesis-led, bilateral sourcing and leveraging our extensive network in the energy transition space.
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Capital Flexibility
Our deep energy sector expertise and flexibility with regards to underlying investment structures allows us to consciously accept certain market risks and to selectively pursue greenfield opportunities, provided risks are well-diversified over large project pipelines.
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Value Creation
Our focus is on equity or equity-like control or joint-control investments. We use our majority positions and dedicated in-house expertise to apply an active management approach which supports platform growth and creates platform value by establishing good governance, proactively de-risking investments, and realising controllable upsides. Supported by our dedicated ESG framework, which is systematically embedded in portfolio management processes, our teams work very closely with portfolio companies on enhancing operations and implementing best-practice standards.
Portfolio
We have built and continue to grow a portfolio of investments that are well-diversified across energy transition themes, markets, counterparties, and business models.
A leading, Norway-headquartered operator of electric vehicle charging infrastructure for multi-family buildings with a growing presence in Sweden and Germany
A Vermont, U.S. based clean energy company specialised in brownfield development of distributed solar PV and battery storage projects
A partnership with Chilean developer BIWO Renovables for the buildout of distributed and utility-scale solar PV, onshore wind, and battery storage assets
A partnership with local developer SMT Energy for the buildout of a portfolio of distributed battery energy storage projects in several U.S. markets
An Italian energy service company specialised in implementing, funding, and maintaining energy efficiency measures for commercial, industrial, and public infrastructure owners
A partnership with Polish energy service company Luneos for the development, construction, and operation of utility-scale solar PV, storage and onshore wind assets