French private equity firm Antin Infrastructure Partners (EPA:ANTIN) announced on Monday that it is acquiring a majority stake in US solar and energy storage developer Origis Energy, without disclosing the terms of the transaction.
Through its Fund IV, Antin will buy the holding from the target company's president and chief executive Guy Vanderhaegen and life insurer Global Atlantic Financial Group. Vanderhaegen will retain a significant stake in Origis and continue to be at the helm.
Set up in 2008, Origis has developed 4 GW of solar and storage projects to date. The Miami, Florida-headquartered company also has a project pipeline of about 20 GW. The investment will enable Origis to deliver on longer-term development goals and further expand its operations and maintenance services business.
"With [Antin's] backing, we can continue to capitalise on the fast-growing US renewables market, which benefits from a supportive regulatory environment and compelling technology fundamentals," Vanderhaegen noted.
The transaction hinges on regulatory approvals. It is slated to be finalised before the end of 2021.
As Antin's third investment in the US market, the deal with Origis expands the French private equity firm's US presence in infrastructure in North America after its local office was established in 2019.
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