Partners Group has agreed to invest in renewables infrastructure and asset manager Exus, committing up to €1bn in growth capital.
Exus is a provider of third-party asset management and project development services for owners of utility-scale solar, wind and battery storage projects in Europe and North America.
The company currently manages over 11GW of renewable energy assets and has developed 2.4GW of sites in both geographies to-date.
Following the investment, Partners Group will focus on transforming Exus into a next-generation platform that builds, owns, and operates renewable energy developments across both Europe and North America, while continuing to provide asset management services to third parties.
Partners Group will work with management on a value creation plan that will include executing on seed portfolio investment opportunities, growing the company’s expertise through targeted hires, and expanding its project pipeline through accretive acquisitions and partnerships.
To execute this, Exus will leverage both its track record of constructing and commercialising renewable energy assets and existing network to acquire and build utility-scale renewables projects and guide them through to full operational status.
Partner and chief executive for Europe at Exus Diogo Reis said: “We manage an international renewables portfolio that spans multiple technologies.
“Our team has the deep commercial and technical capabilities needed to scale a high-quality asset development business, and Partners Group can provide the long-term capital to realize this vision.”
Partner and chief executive for North America at Exus Jim Spencer added: “With decarbonisation a top priority for governments and businesses, we see an opportunity to expand as a builder, owner, and operator of renewables assets.
“As a global investor with extensive experience in the sector, we believe Partners Group is the right growth partner for us.”
Partner and co-head of private infrastructure Americas at Partners Group Todd Bright said: “Exus fits with our next-generation thematic approach to investing in the clean power sector.
“Through its third-party asset management business, Exus has a strong platform from which to expand.
“Exus is also uniquely positioned to pursue a capital-efficient model for building assets using its existing business and network.
“We aim to scale the Company’s origination capacity for new projects to over 1GW per annum and look forward to working with the management team.”