APG and OMERS Infrastructure have acquired a 50% stake each in renewable energy platform Groendus from NPM Capital.
Dutch manager APG, on behalf of civil service pension scheme ABP, and the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS) have invested an undisclosed sum to buy the energy transition platform in the Netherlands.
Groendus was established last through the merger of six companies in the rooftop solar, metering and energy services spaces.
The Utrecht-based firm plans to grow its portfolio of 300 solar projects and also expects to provide customers with an increasing suite of energy transition solutions, such as electric vehicle charging and battery storage.
The transaction is OMERS Infrastructure’s first investment in the Netherlands. The firm already has stakes in renewable energy firms in India, Australia and the US.
Alastair Hall, senior managing director and head of Europe at OMERS Infrastructure, said the stake investment in Groendus is an “excellent opportunity for OMERS to invest into an energy transition growth platform” with a clear mission to enable its commercial, industrial and public customers to decarbonise.
Dutch pension fund manager APG has renewable investments in the Netherlands, Germany and Sweden.
Jan-Willem Ruisbroek, head of infrastructure investments at APG, said: “We consider the investment in Groendus as a rare opportunity to contribute to the acceleration of the energy transition in the Netherlands.
“The investment in Groendus does not only come with solid returns, but it also contributes to the UN’s sustainable development goals.”
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