APG, OMERS to jointly buy Dutch solar developer Groendus

Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

May 18 (Renewables Now) - Pension investor APG and OMERS Infrastructure have sealed a deal to jointly acquire Dutch renewables developer Groendus from NPM Capital.

Formed last year through the merger of six companies, Groendus is an energy transition platform that develops, builds and operates energy projects, while also providing ancillary services to its customers. To date, the firm has installed over 170 MWp of solar capacity and more than 12,000 smart meters. It currently aims to reach 300 solar projects in its portfolio.

APG noted that its investment in Groendus is done on behalf of pension fund client ABP. On the other hand, the Canadian infrastructure investment advisor is investing on behalf of the pension plan OMERS. It represents the latter’s first such deal in the Netherlands.

“Not only do we expect solid returns, it also contributes to APG’s ambition to support the development and scale up of technology enabling a rapid energy transition in the Netherlands as well as the UN Sustainable Development Goals,” commented Jan-Willem Ruisbroek, Head of Global Infrastructure Investment Strategy at APG.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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