Igneo to buy German renewable energy company Dah

Igneo Infrastructure Partners, a subsidiary of Australian asset manager First Sentier Investors Group, has agreed to acquire German agricultural and renewable energy firm Dah Gruppe, according to a statement published on Friday.

Dah Gruppe is an integrated agricultural and energy company that generates gas, electricity, and heat from renewable energy sources. It operates 22 biogas plants and is developing major solar projects while managing over 20,000 hectares of agricultural land. Dah's current solar projects have a planned capacity of over 300 MWp. In the long term, the group aims for an installed capacity of up to 1,000 MWp, according to its website.

Financial details of the deal were not disclosed. According to information cited by German business magazine WirtschaftsWoche, the price should be about EUR 300 million (USD 325.3m).

The business is being sold by real estate projects developer Zech Group SE and the related Gustav Zech Foundation which plan to focus on the real estate and construction sectors.

"We are very pleased to support Dah Gruppe in its further development as a new shareholder. Our long-term and sustainable investment philosophy aligns perfectly with climate-neutral biomethane and biopower production”, Gregor Kurth, partner at Igneo Infrastructure, noted in the statement. According to Kurth, the German firm is “ideally positioned” to achieve future organic and inorganic growth.

The transaction is subject to antitrust clearance.

(EUR 1 = USD 1.084)

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