Renantis and Ventient Energy Collaborates to Form Largest Renewable IPPs in Europe
With a total of 4.2 GW of installed capacity across over 200 plants, the integrated business will become one of the top five European onshore wind IPPs.
June 29, 2023. By News Bureau
Renantis and Ventient Energy – owned by institutional investors advised by the Global Infrastructure group at J.P. Morgan Asset Management announce that they intend to join forces to form one of the largest renewable independent power producers (IPPs) in Europe.
With a total of 4.2 GW of installed capacity across over 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 USA.
The companies' development pipeline stands at 18 GW, comprised of onshore wind, floating offshore wind, solar PV, energy storage and green hydrogen projects and, by combining the development strength of Renantis and the operational excellence of Ventient Energy, the pair will create a leading organisation that owns, develops and operates a diverse renewable energy asset portfolio.
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 employees, stakeholders and shareholders.
Renantis CEO, Toni Volpe, will lead the new organisation towards its goal of building a business of scale that matters to both people and planet.
Announcing the integration, Toni Volpe commented: "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."
Kevin McCullough, ad interim CEO of Ventient Energy, said: "This is an exciting milestone in the growth of our companies. The synergies and complementary expertise that already exist will allow us to reach as yet untapped potential. Standing alone, our businesses are making positive steps to accelerate the energy transition and build a more sustainable energy future. But together those steps become strides, which we can transform into future leaps."
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