VINCI signs a strategic partnership agreement with NatPower SA, an international renewable energy development platform, notably to fast-track Cobra IS's expansion in the United States
15 Aprile 2024 - 8:30AM
VINCI signs a strategic partnership agreement with NatPower SA, an
international renewable energy development platform, notably to
fast-track Cobra IS's expansion in the United States
Nanterre, 15 April 2024
VINCI signs a strategic partnership
agreement with NatPower SA, an international
renewable energy development platform, notably to
fast-track Cobra IS's expansion in the United States
VINCI has finalised an investment amounting to
approximately €50 million in NatPower SA, a renewable energy
development platform set up in 2019 and principally active in
Italy, Great Britain and the United States.
The investment encompasses the acquisition of
10% of the company’s share capital from its founder Fabrizio Zago
and from the Tyrus Capital fund, in addition to convertible bonds
enabling the Group to increase its stake then possibly exercise an
option giving it control over NatPower SA.
Under the agreement, VINCI will have a priority
right on opportunities to acquire projects in the ready-to-build
phase initiated by NatPower SA.
Alongside the investment, the parties have
reached an agreement to jointly develop renewable energy projects
(principally onshore wind and solar) in the United States, notably
building up on NatPower SA's existing portfolio in this
segment (which includes approximately 1.2 GW of capacity plus
about 2 GW at the preliminary stage). To this end, a joint
venture, controlled by VINCI via its subsidiary Cobra IS, will
be incorporated in the United States.
Lastly, leveraging NatPower SA's expertise,
VINCI will be in a prime position to develop energy storage
projects, particularly in Great Britain.
About NatPowerNatPower is an independent
developer of infrastructural projects for renewable energy
generation, providing support to enterprises, utilities and
investors globally. It boasts a large project pipeline and drives
the energy transition process across all major technologies
including solar, wind, battery energy storage and hydrogen. In just
a few years, NatPower has secured its standing as one of the most
prominent independent developers, actively operating in several
countries of which Italy, United Kingdom, United States, Kazakhstan
and Chile. NatPower operates from three offices in Milan, London
and Washington D.C., with a workforce of more than 70 employees
across three continents.
About VINCIVINCI is a global player in
concessions, energy and construction, employing 280,000 people in
more than 120 countries. We design, finance, build and operate
infrastructure and facilities that help improve daily life and
mobility for all. Because we believe in all-round performance, we
are committed to operating in an environmentally, socially
responsible and ethical manner. And because our projects are in the
public interest, we consider that reaching out to all our
stakeholders and engaging in dialogue with them is essential in the
conduct of our business activities. Based on that approach, VINCI’s
ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general.
www.vinci.com
This press release is an official information document of the
VINCI Group.
PRESS CONTACTVINCI Press DepartmentTel: +33 (0)1
57 98 62 88media.relations@vinci.com
- CP VINCI_NatPower_20240415_VA
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