Igneo Infrastructure Partners is to acquire German gas transmission system operator Nowega from Erdgas Münster for an undisclosed sum.
Igneo is investing on behalf of its European Diversified Infrastructure Fund IV to buy the mid-sized gas transmission system operator, which owns and operates approximately 1,500km of pipelines across Lower Saxony and North Rhine-Westphalia.
Gregor Kurth, partner at Igneo, said: “Nowega represents a compelling opportunity to invest in critical regulated infrastructure with an important role to play in Germany’s evolving energy system.
“We have significant experience investing in this sector and a strong understanding of the German market, so are both well-placed and excited to partner with the management team to support the continued development of the business.”
Frank Heunemann, managing director of Nowega, said: “We look forward to working with Igneo as our future shareholder. Our focus remains on consistently advancing our contribution to Germany’s energy transition, particularly through the development of hydrogen and biomethane infrastructure.
“At the same time, our customers can continue to rely on Nowega as a trusted partner, with the same commitment to quality, reliability and service.”
Stephan Dietzmann, managing director of Erdgas Münster, said: “Nowega has developed into a strong and reliable infrastructure company over many years. We are pleased to have found a prospective new shareholder in Igneo that shares our confidence in Nowega’s future potential.”
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