The London-based sustainable infrastructure investment firm Pioneer Point Partners invests in PerPetum Europe.
PerPetum Europe ("PerPetum" or the "Company"), a leading Belgium-based company that develops, constructs, owns and operates decarbonisation energy projects for Commercial and Industrial ("C&I") customers, is pleased to announce that leading European sustainable infrastructure firm, Pioneer Point Partners ("Pioneer"), has acquired a 60% stake in the Company.
After 7 successive years of continued growth, the Chief Executive Officer and founder, Luc Leenknegt, strongly believes that it would be beneficial for PerPetum to realise its future growth plan and ambition with a new partner who can support international growth and who has a deep affinity with the energy markets of tomorrow. Pioneer has acquired a 60% stake in PerPetum through its fund, Pioneer Infrastructure Partners SCSp (the "Fund"). Luc Leenknegt remains a significant shareholder and will stay in his role as Chief Executive Officer. The team remains entirely in place, and it is envisaged that extra talent and key executives will be hired for this next stage of growth.
PerPetum was founded in 2007 as an EPC contractor for rooftop solar and has since expanded to become a key vertically-integrated decarbonisation solutions provider to the C&I sector. PerPetum recently built new offices in Eke (Ghent, Flanders) and has offices in the Netherlands and France. PerPetum has core expertise in solar PV where it has installed over 500 MW of capacity to date. The Company will have over 200 MW operational and owned on balance sheet by the end of 2024. The Company is increasingly focussed on the provision of multi-technology solutions for C&I customers including onshore wind, battery storage and EV charging infrastructure. Off-balance financial solutions are offered to corporate customers via tailor-made corporate Power Purchase Agreements. The Company's portfolio includes some of Europe's largest behind-the-meter projects, such as the 40 MW PV carports at Pairi Daiza's zoo and the 23 MW ground, rooftop and carport installation at Aperam's steel plant in Genk.
Established in 2008, Pioneer is a leading European sustainable infrastructure investor that has committed over €1.4 billion to date. Led by five partners, with over 110 years' collective private equity investment experience across Western Europe, Pioneer particularly focuses on energy and environment infrastructure in the lower mid-market segment. The Fund, which is classified as Article 9 under SFDR, targets investments that make a substantive contribution to the environmental objectives of climate change mitigation and transition to a circular economy. PerPetum is strongly aligned with Pioneer's sustainable objectives of contributing to the energy transition, which will require both a shift to renewable energy and a significant increase in energy efficiency.
The shareholders of PerPetum will provide growth capital with the strategic objective of leveraging the expertise and proven track record of PerPetum to build a leading B2B behind-the-meter energy decarbonisation solutions platform in Belgium and other European markets such as France. The shareholders expect to realise growth through the installation of new energy decarbonisation projects for C&I customers, as well as expanding into new product areas and geographies.