APG and OMERS Infrastructure, a Dutch pension investment company, have agreed to purchase energy transition platform Groendus from NPM Capital. Groendus develops, builds, and operates energy assets for companies, municipalities, and institutions, as well as provides a wide range of ancillary services. The company has installed about 170 MWp of solar power and over 12,000 electricity metres.
The company intends to increase its solar project portfolio and expand into other sectors such as EV charging and battery storage. OMERS Infrastructure invests on behalf of OMERS, a Canadian pension plan. If regulatory approval is granted, the transaction is scheduled to close in the third quarter of 2022. The financial details and other terms of the deal have not been disclosed. The pension plan previously invested in Azure Power, FRV Australia, Leeward Renewable Energy, and Navisun.
In November 2021, OMERS Infrastructure signed an agreement with a fund managed by Ares Management Corporation to acquire 100 per cent of Navisun LLC, an independent distributed generation solar power producer. Navisun acquires, co-develops, constructs, finances, owns and operates distributed and small utility-scale solar and storage projects throughout the US.
