Leading renewable energy consultancy and service provider, Natural Power, has acted as technical adviser to the French private equity specialist Crédit Mutuel Equity for its CHF 30 million acquisition of aventron’s renewable energy portfolio consisting of a large number of wind, solar and hydro assets located throughout six European countries.
Natural Power’s mandate for the operational sites in the portfolio included a review of technology, O&M contracts, and operational performance. The team also completed post-construction yield assessments for the wind and solar assets. For the development-stage assets within the portfolio, Natural Power focused on reviewing capex estimates and future cost trend assumptions across the pipeline of wind, solar and hydro projects.
Hannah Staab, Natural Power’s Principal Advisor – Europe, said: “This project demonstrates our ability to deliver robust due diligence across a diverse and pan-European range of technology. We are looking forward to see how this equity deal goes on to support the growth and development of aventron across Europe.”
aventron, based in Münchenstein (Canton of Basel-Land), is a producer of green energy from hydro, wind, and solar power. The company is pursuing a diversification strategy based on three technologies (solar PV, onshore wind, and small hydro power) and six countries (Switzerland, France, Germany, Spain, Italy, and Norway).
At the end of 2019, aventron had an installed capacity of 545 megawatts (MW) and generated annual revenues of CHF 102,5 million. aventron seeks to maintain its strong position as the third-largest green power producer in Switzerland (solar, wind and small hydro) and to join the ranks of the leading European green power producers by establishing a fully balanced and diversified portfolio of renewable energy assets with a total installed capacity of 1'000 MW. Extensive industry experience and a network of strategic partners guarantee the project pipeline. Typical acquisition projects involve power plants with a capacity of 200 kW to 50 MW.
Antoine Millioud, the CEO of aventron, said: “aventron is pursuing a targeted and balanced growth strategy in the field of renewable energy production, focusing on hydro, wind and solar power. The capital raising is a clear sign of trust in the development and the strategy of aventron. We are delighted to be working alongside Crédit Mutuel Equity, a strong institutional investor who will help us consistently pursue our strategy.”
Thomas Bitzi, Investment Director at Crédit Mutuel Equity in Zurich, said: “This investment is a unique opportunity to support a company that combines growth, resilience and high-quality assets in several European countries, and is working on a daily basis to promote a future based on sustainable energy. aventron's management team enjoys a sound reputation and has a proven track record, both in terms of operations and acquisitions. aventron is in an excellent position to seize any opportunities as the renewable energies market develops.”
Fabienne Mazières, Crédit Mutuel Equity's CEO in Switzerland, adds: “We are delighted to have the opportunity to support aventron in executing on its ambitious growth plans. They fit in well with the philosophy of Crédit Mutuel Equity, a subsidiary of Crédit Mutuel Alliance Fédérale Group, which is extending its support to the infrastructure and renewable energy sectors. We are aware of the benefits that these investments bring to society. This type of partnership fits well with our long-term investment horizon, throughout which we work actively alongside management.”
Natural Power has a deep understanding of financing for renewable energy projects, and helps clients, including banks, developers, independent power producers (IPPs), utilities and investment funds, to make good financial decisions when it comes to green energy projects. Find out more here https://www.naturalpower.com/uk/expertise/service/advisory/due-diligence
About Crédit Mutuel Equity
Crédit Mutuel Equity brings together all of Crédit's private equity activities; capital development, capital transmission and capital innovation; and provides capital support to managers at all stages of their company's development- from initiation to transmission - by providing them the means and the time necessary to implement their transformation projects.
Crédit Mutuel Equity thus brings together more than 350 managers in a real network of entrepreneurs who offer everyone, whatever the nature of their project, the assurance of benefiting from the experience of others. By investing its own capital (3.0 billion euros), Crédit Mutuel Equity finances companies' projects according to time horizons suited to their development strategy, both in France and internationally.
aventron is Switzerland's third largest producer of green energy. The company acquires and operates photovoltaic solar power plants, onshore wind power plants and small hydropower plants in Switzerland and some European countries. In the medium term, aventron plans to build a balanced and diversified portfolio of assets in the field of renewable energies, with a total capacity of 1,000 megawatts of installed capacity, and thus become a leading operator of power plants in Europe. aventron offers an attractive opportunity for long-term investment in energy infrastructure in Europe.
About Natural Power
Natural Power is an independent consultancy and service provider that supports a global client base in the effective delivery of a wide range of renewable projects including onshore wind, solar, renewable heat, energy storage and offshore technologies. It has a global reach, employing more than 400 staff across 12 international offices. Its experience extends across all phases of the project lifecycle from initial feasibility, through construction to operations and throughout all stages of the transaction cycle.
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