APG and OMERS Infrastructure agree to acquire Groendus

Dutch pension provider APG and Canadian asset manager OMERS Infrastructure have agreed to jointly acquire Groendus, an energy transition platform in the Netherlands, from NPM Capital.

As active investors, APG and OMERS said they planned to support Groendus’ ‘ambitious’ energy transition growth plans.

Groendus was established in 2021 through the merger of six companies in the rooftop solar, metering and energy services sectors.

APG’s investment has been made on behalf of its pension fund client, ABP, and is in line with its strategy to support solutions for the energy transition.

OMERS Infrastructure is investing on behalf of OMERS, one of the largest pension funds in Canada, and marks its first investment in the Netherlands.

Groendus develops, builds and operates energy assets, and provides a portfolio of ancillary services for its customers.

It is committed to increasing its portfolio of 300 solar projects and plans to provide its clients with a growing range of energy transition solutions.

Groendus CEO, René Raaijmakers, commented: “There is an urgent need to transform the traditional energy supply into a sustainable, clean energy system.

“We are grateful for the huge impact NPM Capital has made during the initial years bringing together six companies into the Groendus platform.

“We are proud for the trust given to our team by OMERS Infrastructure and APG, allowing Groendus to accelerate its efforts to continue building the energy transition service portfolio for our customers.”

APG head of global infrastructure investment strategy, Jan-Willem Ruisbroek, added: “APG is excited to announce the investment in Groendus, which is a rare opportunity in the accelerating Dutch energy transition space and fits the core of our strategy.

“As a pension investor, we are continuously looking for attractive, long-term, responsible investments. 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.

“We are grateful to NPM for establishing the Groendus platform which serves as a foundation of future growth and look forward to working together with OMERS Infrastructure in the years to come to support Groendus in its mission and ensure a long-term, stable and sustainable investment return for our pension fund client APB and its participants.”

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