Partners Group is buying an 80% equity stake in European renewable energy developer VSB Group for an undisclosed amount.

Announcing the deal, the private markets investment manager said Andreas Dorner, VSB’s founder and managing director, will retain the remaining equity stake.

Founded in 1996, the Dresden-headquartered renewable energy developer has commissioned more than 700 wind energy and photovoltaic plants with a combined installed capacity of approximately 1.1GW and an investment volume of €1.7bn.

Dorner said: “VSB has enjoyed great success to-date as an independent, multinational company. However, given the vast opportunity for renewable energy, we wanted a like-minded partner to accelerate our next phase of growth.

“In Partners Group, we have found a global partner with significant operational resources and a wealth of international experience in hands-on renewable energy investment.”

David Daum, member of management, private infrastructure Europe, Partners Group, said: “The company’s [VSB] proven development track record, strong and engaged management team, and sizable project pipeline make it an excellent fit for Partners Group’s platform expansion strategy.

“VSB is very well-positioned to capitalise on increased demand for environmentally-friendly sources of energy throughout Europe; we believe it has potential to become the preeminent European renewable energy platform.”