Dutch pension fund ABP and Canada’s OMERS Infrastructure have agreed to acquire Dutch energy infrastructure solutions business Kenter from Alliander Corporate Ventures for an undisclosed sum.
OMERS Infrastructure is investing on behalf of Canadian pension fund OMERS, while APG Asset Management is investing on behalf of ABP.
Kenter is an energy infrastructure firm that provides medium-voltage infrastructure and meters to more than 25,000 commercial and industrial clients in the Netherlands and Belgium.
This is ABP and OMERS’ second joint investment in the Dutch B2B energy solutions sector, after investing in Groendus last year.
Once the acquisition of Kenter is complete, the shareholders envision that Kenter and Groendus will partner to offer new and existing customers integrated energy solutions to support the decarbonisation of their operations and help them reach net-zero targets.
APG and OMERS Infrastructure were advised by DC Advisory, Emendo Capital and Allen & Overy.
The closing of the transaction is expected in Q4 2023, subject to regulatory approvals.
“ABP likes to invest in the Netherlands in order to stimulate economic growth, employment and sustainable projects,” explained ABP board of trustees chair, Harmen van Wijnen.
“We also want to contribute to the energy transition and wholeheartedly support our nation's climate objectives. Therefore, investments in the electrification infrastructure are needed on a large scale.
“This investment benefits our three million participants in several ways. It not only contributes to sufficient and sustainably generated energy in the Netherlands but also generates long-term value for our pension participants.”
OMERS Infrastructure senior managing director and head of Europe, Alastair Hall, added: “We’re thrilled to announce OMERS second investment to enable the energy transition in the Netherlands.
“We look forward to growing a B2B energy solutions platform in the region, delivering energy infrastructure for businesses looking to meet their sustainability goals.”
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