Renewables developer NatPower has secured a €50m investment from Vinci, to grow its portfolio of renewable energy projects worldwide.
The investment consists of the acquisition by Vinci of 10% of the capital of NatPower from its founder Fabrizio Zago and the Tyrus Capital fund.
It includes the subscription to convertible bonds that will allow the Vinci Group to increase its shareholding over time and to possibly exercise an option to take control of NatPower.
Under the terms of the agreement, Vinci will have the priority right to acquire ready to build projects carried out by NatPower.
In addition to the investment, the deal includes an agreement to jointly develop renewable energy projects (mainly solar and onshore wind) in the United States, thanks to NatPower’s portfolio of projects in this sector that reach 1.2GW, as well as approximately 2GW of projects that are in the preliminary phase.
To achieve this goal, a joint venture controlled by Vinci through its subsidiary Cobra IS will be created in the United States.
Lastly, thanks to the expertise of NatPower, Vinci will accelerate the development of renewable energy storage projects, particularly in the United Kingdom.
Fabrizio Zago, CEO of NatPower, said: “The partnership with Vinci is an important strategic objective that will allow NatPower to further accelerate the implementation of its growth strategy through the support of a global player.
“Our team has extensive experience in the development of renewable energy projects and this transaction allows us to accelerate growth and international development in several markets where we already operate, such as the United States and the United Kingdom.”