A fund managed by sustainable infrastructure investor Pioneer Point Partners has acquired Arpex, an Italian company that develops solar power installations.
The Pioneer Infrastructure Partners II fund has made its third investment with the acquisition of the on-site solar platform for an undisclosed sum.
Pioneer said Partners II’s initial investment will be used to “acquire a significant majority stake” in the company and finance the first tranche of construction of a seed portfolio comprising 50 ready-to-build projects.
Arpex will use future equity from Partners II to scale up its operations to 100 new projects per year.
Arpex, which provides solar energy solutions for the commercial and industrial sector, also provides asbestos removal services.
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