ASSET SALE: Partners Group retains financial advisor for European IPP stake sale

Partners Group is understood to have mandated a financial advisor to run the sale of a stake in Germany-based developer VSB Group.

Founded in 1996, VSB has to date developed and built around 1.3 GW of total installed capacity in Germany, Poland, France, Italy, Finland and Czech Republic, across more than 100 wind farms and around 80 solar plants, and is also now developing battery storage assets.

The company, which has around 500 employees, also has subsidiaries in Romania, Greece, Spain and Croatia, and claims a more than 15 GW project pipeline.

Partners Group agreed the acquisition of an 80% stake in VSB in early 2020, but is now understood to be lining up the sale of all or part of its holding, as reported by Energy Rev in February, and has now retained Nomura Greentech as its financial advisor on the deal.

The transaction is forecast to launch during 2Q24.

With its ongoing strategy of evolving from a pure-play developer to an IPP, VSB is maintaining ownership of an increasing volume of the projects it builds, although it also provides technical and operational services for 3.2 GW of capacity across Europe.

However, it also continues to generate revenue from asset sales, and earlier in 1Q24 launched the sale of a ready-to-build, 60 MW solar PV project in Sicily, Italy, for example.

*This story was originally published exclusively for Energy Rev subscribers.

Energy Rev is a leading proprietary news service focused on European renewable energy market Development, Financing & M&A opportunities. The company was recently acquired by New Project Media.