Renantis and Ventient have teamed up to create a renewable energy developer with a combined installed capacity of 4.2GW and an 18GW pipeline.
Renantis (formerly Falck Renewables) and Ventient Energy, owned by institutional investors advised by the Global Infrastructure group at JP Morgan Asset Management, aim to establish one of the largest renewable energy IPPs in Europe.
With a total of 4.2GW of installed capacity across 200 plants, the integrated business will become one of the top five European onshore wind IPPs.
Combined, the organisations operate a diversified portfolio of onshore wind farms, solar plants and energy storage facilities across nine countries in Europe and the US.
The companies’ development pipeline stands at 18GW, comprised of onshore wind, floating offshore wind, solar PV, energy storage and green hydrogen projects.
The intended combined organisation will continue to deliver customised energy management, asset management and technical advisory solutions, continuing its longstanding track record of delivering services to industrial and tertiary-sector clients at all stages of the value chain.
The companies have begun the integration process and expect to operate as a combined group in 2024.
Over 750 Renantis employees and 250 from Ventient Energy will form one organisation that brings scale, opportunity and diversified expertise to workers, stakeholders and shareholders.
Renantis chief executive Toni Volpe will lead the new organisation towards its goal of building a business of scale that matters to both people and planet.
Volpe said: “Sustainability and people are at the centre of everything we do at both Renantis and Ventient Energy.
“Together, we will create an organisation that will allow us to accelerate towards building a better future for people and the planet.
“Both companies share aligned values, purpose and culture, so this integration is a natural step in the strategic evolution of our businesses.”
Renantis has 1420MW capacity across almost 70 renewable energy plants and a pipeline of projects totalling 17GW, including 8.6GW of floating offshore wind projects in development, comprising 5.5GW in Italy and 3.1GW in the UK.
Ventient Energy has 2.8GW of installed onshore wind capacity.
Wind and solar PV colocation projects are being developed at several sites in Iberia and the company has a further colocation development pipeline of over 1GW of solar PV.