A majority stake in Blue Elephant Energy, a platform for renewable energy with over 1300MW of contractual capacity, has been bought by Antin.
In order to assist the German renewable energy company’s expansion goal, Antin’s Flagship Fund V will take a controlling ownership position.
Due to its “proven and highly scalable” business model, Blue Elephant will be able to “drive organic development and greatly increase its international generation capacity” thanks to its strategic alliance with Antin.
The developer is increasing the number of solar and wind projects it is developing while also looking into potential new business ventures in related industries.
Founder and CEO of Blue Elephant, Felix Goedhart, stated “With Antin we have a strong and long-term oriented partner at our side with whom we will continue our development expansion into key priority markets.”
“In addition, we are continuously expanding our internal development capacities.”
“This will bring us an important step closer to the crucial goal of helping to drive the energy transition and creating a greener future.”
The founder and primary shareholders Blue Elephant Venture GmbH, Jahr Assetmanagement GmbH, and ATHOS are still on board with the company in addition to the management team, delivering a strong message of consistency and continuity, according to Antin.
Stéphane Ifker, Senior Partner at Antin, said “We are convinced BEE is only at the start of its growth story.”
“The company is uniquely positioned to play a leading role in the accelerating buildout of the renewable energy infrastructure in Germany as well as other key markets in Europe and beyond, which is critical to meeting future energy demand.”
“We look forward to working with BEE’s very experienced management team and our co-shareholders to scale the company into a leading renewable energy platform.”
BEE will be the Fund V of Antin’s first investment.
The transaction, which is anticipated to finalise in the fourth quarter of 2022, has an agreement between the parties not to divulge the financial information.