OMERS and APG have completed a €662m refinancing for Kenter Groendus, their jointly owned Dutch energy infrastructure platform.
The twice-oversubscribed debt facility, backed by banks and institutional lenders, provides the commercial and industrial energy provider with funding to accelerate its growth across metering, solar, battery storage and electric vehicle charging solutions.
Kenter Groendus was formed through the merger of two separate platforms acquired by APG, acting on behalf of Dutch pension scheme ABP, and OMERS Infrastructure over the past four years.
The pair first partnered in May 2022 to acquire Utrecht-based renewable energy firm Groendus from NPM Capital. In July 2023, they executed a second joint deal to buy energy metering business Kenter from Alliander Corporate Ventures, subsequently combining both assets to create a unified commercial and industrial energy transition platform in the Netherlands.
Luca Lupo, senior managing director and head of Europe, OMERS Infrastructure, said: “This refinancing is an important milestone for Kenter Groendus. The strong support from lenders reflects the quality of the business and its long-term role in supporting the energy transition.
“The refinancing gives Kenter Groendus additional capacity and flexibility to continue to invest in its core infrastructure businesses and pursue its growth ambitions in the years to come.”
Arjan Reinders, head of infrastructure Europe, APG, said: “The Netherlands’ energy transition requires significant investment in enabling infrastructure, and Kenter Groendus plays an increasingly important role in supporting that transformation.
“This refinancing strengthens the company’s financial foundation and provides the flexibility to continue investing in solutions that help customers to electrify.”
Jean-Pierre van Lieshout, CFO, Kenter Groendus, said: “This refinancing provides Kenter Groendus with a solid foundation to continue supporting our customers in the years ahead. I would also like to thank all our colleagues at Kenter Groendus who contributed to achieving this important milestone.”
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