Milan, 5 December 2019
Macquarie Infrastructure and Real Assets (“MIRA”), via Macquarie European Infrastructure Fund 4 (“MEIF4”), has reached an agreement to sell its interest in Renvico to ENGIE.
Renvico is a leading developer and operator of onshore wind farms, currently invested in 142 MW of installed generation capacity across Italy. In addition, Renvico owns a 50 per cent stake in a joint venture with KKR in France, representing a further 187 MW of installed onshore wind generation capacity. As part of this transaction, KKR and its co-investors in the French joint venture have also agreed to sell their combined 50 per cent stake to ENGIE.
Leigh Harrison, Head of MIRA EMEA, said; “During MEIF4’s period of investment, Renvico has cemented its reputation as a major player in the European renewables sector – supporting Italy and France as both countries transition to a more sustainable energy mix. We are delighted to have played a role in Renvico’s growth story and to have found a new owner who will oversee its continued development.”
When MEIF4 acquired Renvico, previously known as Sorgenia Green, the business managed stakes in 277 MW of installed onshore wind generation capacity. Since then, Renvico’s portfolio has grown to 329 MW of installed capacity today with an additional pipeline of more than 300 MW under development.
Since making its first investment in renewables in 2005, MIRA has established itself as a major investor in the sector. Today, MIRA and its managed funds oversee investments in 12.2 GW of green generation capacity across onshore and offshore wind, solar, hydro, geothermal, bioenergy and energy from waste projects.
In Italy, MIRA has investments in Società Gasdotti Italia S.p.A, an owner and operator of gas transmission infrastructure, and Hydro Dolomiti Energia S.r.l, an owner of a portfolio of hydro power generation facilities.
Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternative asset managers. For more than twenty-five years, MIRA has partnered with investors, governments and communities to manage, develop and enhance assets relied on by more than 100 million people each day. As at 30 September 2019, MIRA managed approximately €124 billion in assets that are essential to the sustainable development of economies and communities, including; 156 portfolio businesses, ~600 properties and 4.7 million hectares of farmland.
MIRA is a part of Macquarie Asset Management, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs over 15,700 people and is listed on the Australian Securities Exchange (ASX:MQG).
We are a leading world group that provides low-carbon energy and services. To tackle the climate emergency facing us all, our aim is to become the world leader in the zero-carbon energy transition "as a service" for our clients – particularly for companies and regional authorities.
We use our expertise in our key business areas (renewables, gas, services) to provide competitive and bespoke solutions. With our 160,000 employees, our clients, our partners and our stakeholders, together we form a community of imaginative builders, striving every day to bring about a more harmonious form of progress. Turnover in 2018: €60.6 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
For further information, please visit www.engie.com