In the news: “Now is the time to invest in the energy transition” — Infrastructure Investor

Keynote interview. Russia’s invasion of Ukraine was a wake-up call that energy security is just as important as decarbonisation, say Energy Infrastructure Partners’ managing partner Roland Dörig and head of global client solutions Beat Goetz

Originally published by Infrastructure Investor in the May 2022 issue.
Download the original article.

 

The term energy transition has been around for years. What does it mean to you?

Roland Dörig: The energy transition is a global movement to reduce carbon emissions in the energy industry. In gross financial terms, the OECD has said we need to invest $6.9 trillion annually in infrastructure until the end of the decade. That is about twice the GDP of Germany every year.

Countries across the world are generally aligned – everyone understands we need to reduce the role of carbon in our energy mix. Where we see differences is in the path from point A to point B.

At EIP, we are focused on making sure the transition happens in an intelligent manner that optimises for security of energy supply amid the transition. We want to add renewables to energy systems without jeopardising economic growth.

And we want to do it without any backsliding, as has been the case when coal-fired power plants needed to come back online to shore up energy supplies in some countries.

 

The EU decided to accelerate its renewable growth plans in the wake of the current geopolitical tensions. Do you expect a similar response in other regions?

Beat Goetz: Yes, absolutely. First, it is tragic that it takes a war, but Russia’s invasion of Ukraine has brought the topic – not only security of energy supply, but sovereign security of energy supply – to the forefront.

Countries especially here in Europe realise the risks. Germany, for example, imported 40 percent of its natural gas from Russia in the first quarter of this year (albeit down from an average of 55 percent previously). Four days after the Russian invasion, Germany announced they will dramatically accelerate their energy transition plans. Now they will be using almost 100 percent renewable electricity by 2035, 15 years earlier than planned.

That is the way out, but it won’t happen overnight. Germany’s last three nuclear power plants are shutting down for good this year and the country’s economics minister has said there is no way to completely phase out Russian gas before 2024.

So, it is imperative that we all invest now in decarbonisation but also in security of supply and self-determination.

 

The EU has been considering adding natural gas as a ‘transitional’ green investment under its Sustainable Finance Taxonomy. And yet, we just touched on some of the intrinsic risks. What role does natural gas have in the energy transition?

RD: We are convinced that natural gas has a key role to play in the energy transition. Gas-fired power plants offer the on-demand power needed to complement renewables. We are talking about plants that can power up and down tactically in case the sun isn’t shining or there is weaker wind. Natural gas also emits less than 50 percent as much carbon dioxide as coal.

The end goal, of course, is to minimise reliance on carbon-based power sources. To get there we need flexibility: grid-scale batteries or smart grids that leverage electric vehicles for balancing effects; classic hydropower reservoirs; or new technologies like hydrogen. It just takes time and, again, it is important that we start now.

 

Institutional investors are increasingly looking to add exposure to the energy transition to their portfolios. Some are considering it a separate asset class, with fixed allocation targets. Are you seeing that trend play out on your side and how do you explain the shift?

BG: Investors want to build diversified portfolios that generate strong risk-adjusted returns. Depending on the needs of the institution or investor, some may want dividends along the way.

If you look at it like that, it is clear why there is so much money looking for a way into energy transition infrastructure. Allocations to the infrastructure space last year were 30 percent above the five-year average, according to the latest Bain & Company report.

At EIP, we look for system-critical energy infrastructure, assets that are vital to the security of energy supply in the countries where they operate. These assets are the backbone of society. Regardless of what is happening in the broader economy, politicians need energy infrastructure that works.

Then you have industrial customers who want to buy power at predictable prices. Those are just two reasons why investors in the space can count on very predictable cashflows.

Once you consider that we invest in different geographies, technologies, parts of the energy mix and economic mechanisms, then you see the intrinsic diversification that comes with this new asset class, energy transition infrastructure. The appeal to investors is obvious.

Energy transition is such a broad asset class. If we are talking about infrastructure assets that generate power, you can look at different parameters: generation technology, like wind, solar or hydro; different geographies; the development stage of the assets. We also look at energy distribution assets like power networks or gas distribution.

There is also diversification through the economics of the asset. Are the returns regulated? Is there a private offtake agreement to sell power at a fixed price?

We can also talk about diversification in terms of type of portfolio company that we are investing in: Is it a group of operating assets? Is it an owner-operator of assets with its own development pipeline? Is it a platform that has power-generating infrastructure assets on its balance sheet but also adjacent business lines?

 

Is there a lot of competition for deals in the space?

RD: Of course there is. But, if I can say this with some humility, we designed EIP and our approach to stand out. First and foremost, we are focused 100 percent on our asset class. We have 65 specialists who work exclusively on energy infrastructure. We are not a big firm that has an infrastructure strategy or an energy team. We are all-in on energy transition infrastructure every minute of the day.

Of course, there is also a snowball effect here. The longer we invest, the stronger our advantage. We are growing into a platform, we know the players, we hear about the deals. This edge was critical to our recent partnership with the leading Canadian utility Boralex to invest in their French platform.

 

Finally, high inflation and central bank measures to combat it have been putting pressure on equities this year. To what extent would you say infrastructure, and in particular energy infrastructure, is up for these challenges?

BG: Look at the consumer price indexes that central banks use to measure inflation. According to the US Bureau of Labor’s statistics, gasoline prices have been the biggest contributor to CPI in the last five years. We don’t invest in anything related to the petroleum industry, but you can see how energy prices and commodities prices more broadly play a key role in inflation.

Now consider that the majority of energy usage is non-negotiable. Factories don’t power down and commuters in America don’t stop driving to work when there is a price increase of, say, 10 percent, which would be a serious level of inflation. Households don’t stop using power grids when electricity gets more expensive. All of this is to say, the assets we look at have clear pathways to perform in inflationary environments.

Of course, tightening of the monetary policy by central banks will generally create headwinds to growth, with implications across the economy. The energy industry is obviously not immune. But our team has really studied this asset class. If you look at distributions and capital gains, privately held infrastructure assets have really held their own if not outperformed against typical assets, like stocks, bonds and real estate, across all manner of growth and inflation scenarios.

Partners in growth. Funds managed by Zurich, Switzerland-based Energy Infrastructure Partners recently reached an agreement to take a 30 percent stake in Boralex’s French renewables platform, one of the largest portfolios of wind assets in the country.

Boralex and EIP will work together on plans to nearly triple the size of the portfolio to three gigawatts by 2030.

The plans support France’s renewable energy programme, launched in 2018, which aims to double the country’s onshore wind capacity and triple its solar capacity by the end of the decade.

“Boralex is a real success story in France, having built up the largest independent renewable power producer in the country, alongside Engie and EDF, of course,” says Roland Dörig. “We had been following the development of the business for a number of years and had good relationships with the management team. When we learnt that they were looking to sell a minority stake and bring a knowledgeable partner on board, of course we were interested.”

Beat Goetz explains that the combination of Boralex’s defensive risk profile and potential for value creation made it a compelling proposition for the firm. “Boralex already owns one of the largest independent wind portfolios in France, producing stable returns based on commercial and regulated power purchase agreements with big players like IBM,” he says.

“At the same time, Boralex has a pipeline in place, ready to be built out. This opportunity means there is value in terms of returns, cashflow and higher valuations in the long run. This type of defensive investment would not usually produce the returns that investors are seeking. But here the combination of defensive characteristics coupled with the ability to generate value as a partner in the development platform is what appealed to us.”

Of course, other firms also spotted that potential and competition was fierce. “Everyone was interested in this participation, but the vendor was looking to select a partner based on experience and sector know-how,” Dörig says. “That was our edge.

“Boralex has ambitious goals to grow its portfolio, at least in line with the French market, and is perfectly positioned as one of the largest players to benefit from ongoing market consolidation in French renewables. Through our partnership, we will work together to realise that ambition and achieve those goals over the long term.”

Energy Infrastructure Partners to acquire stake in leading French renewables platform from Boralex

Zurich, February 24, 2022 – Energy Infrastructure Partners, a leading investor in the energy transition, will acquire a stake in one of France’s largest renewables platforms, with more than 1 gigawatt of generation capacity. Under the agreement with Canadian utility Boralex Inc., an early mover in the global renewable energy industry, funds managed by Energy Infrastructure Partners will take a 30% share in the company’s French renewables platform and support its further growth as a leader in the French market.

The strategic partnership between Energy Infrastructure Partners, or EIP, and Boralex will build on an existing platform of more than 70 wind and solar plants totaling over 1 gigawatt of generation capacity. Boralex’s French platform also comprises an extensive development pipeline to construct new wind and solar projects across France and upgrade existing sites with best-in-class technology.

Tim Marahrens, EIP Co-Head of Investments, commented, “We look forward to working closely with our partner Boralex to build on their strong track record in the French market. They have established an impressive foundation for continued growth, and we’re excited to work together on its expansion over the coming years.”

Together EIP and Boralex will target a buildout of up to 3 gigawatts of wind and photovoltaic generation capacity by 2030 and support the renewable energy program France launched as part of its commitments through the Paris Climate Agreement, the Programmation pluriannuelle de l’énergie or Multiannual Energy Plan. The government program aims to double the country’s onshore wind capacity and triple its photovoltaic capacity by the end of the decade compared with 2018 levels, while investing more than EUR 70bn in the French renewable energy sector’s continued growth.

Roland Dörig, EIP Managing Partner, commented, “This is an exciting time for our industry, as our clients contribute to supporting the European transition to low-carbon energy generation. Looking at the French government’s plans, onshore wind and solar technology is projected to play an instrumental role in securing the country’s energy supply. Boralex is well-positioned to support France in achieving its renewables targets, thanks to its large and technologically diversified portfolio of assets.”

The closing of the transaction is subject to customary regulatory closing conditions and the approval of Boralex SAS’ Economic and Social Committee (CSE).

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Switzerland-based manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 4 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage investment solutions for institutional investors globally. These clients, primarily pension funds, insurances and large family offices, seek investments in long-term, visible cash flow-generating assets that also contribute to security of energy supply, positive economic, ecological and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2022 Energy Infrastructure Partners AG. All rights reserved.

Energy Infrastructure Partners closes European fund above EUR 1 billion target

Zurich, July 6, 2021 – Energy Infrastructure Partners’ European fund, Energy Infrastructure 2018, has closed. The Fund, already over three-quarters invested, targets economically relevant energy infrastructure assets.

Energy Infrastructure Partners (EIP) successfully completed fundraising during the first half of 2021, raising total commitments from investors to over EUR 1 billion for its Europe-focused energy infrastructure fund. Closing was achieved through commitments from more than 40 institutional investors in Europe and Asia, predominantly comprising pension funds and insurance companies. Despite strong investor demand, the Fund adhered to its target size of EUR 1 billion to allow for the timely deployment of committed capital.

At closing, the Fund was already over 75% allocated or invested, with a portfolio diversified across investment-grade Europe (excluding Switzerland) comprising Nordic onshore wind farms, an offshore windfarm in Germany, as well as concentrated solar power plants in Spain and photovoltaic power stations in Italy and Slovakia. The Fund’s duration of 25 years with a possible five-year extension enables investors to harvest attractive cash flows for long periods.

Reaching this milestone demonstrates that the Fund’s strategy has proven its value to investors. By investing alongside leading industrial partners and public entities, EIP has been able to create attractive, diversified proprietary opportunities that offer long-term returns for institutional investors.

Beat Goetz, Head Global Client Solutions, commented, “Due to strong demand from our institutional investor base, we will expand our investment platform towards global investment-grade countries while still focusing on Europe. During the energy transition, very high investments in renewables, in transmission-distribution grids and in energy storage will be required to ensure continued security of supply. This creates interesting new global opportunities for our investors.”

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Switzerland-based manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 4 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage solutions for institutional investors globally. EIP’s clients focus primarily on pension funds, insurances and large family offices seeking investments in long-term, stable cash flow-generating assets that also contribute to security of energy supply, positive economic, ecological and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2021 Energy Infrastructure Partners AG. All rights reserved.

In the news: “Hydropower will be the greenest storage solution of the next decade” — source: Agefi

ENERGY. Facilities and infrastructure that are crucial for supply in Switzerland must be controlled by Swiss investors, according to Roland Dörig, co-founder of EIP.

Christian Affolter, originally published by Agefi on January 13, 2021 in French.
Download the original article or view it on Agefi.

Energy Infrastructure Partners (EIP) has quickly become one of the most important private energy players in Switzerland and the market leader in the electricity sector. It is also one of the largest investors in renewable energy in Europe, with shares in four of the top ten wind farms. Being able to act independently from Credit Suisse since the transfer to his team of management at the end of the year last year, with a Finma license since 1st December, makes this role very much more visible.

On behalf of its institutional clients, in particular Swiss pension funds, EIP manages stakes in, among others, the second largest Swiss electricity group Alpiq, the operator of the Swiss electricity transmission system Swissgrid and the company operating the gas pipeline through Switzerland, Transitgas. The role of this specialized player is no longer limited to that of a purely financial investor who manages almost three billion francs, including about 1.7 billion in Switzerland on behalf of some 180 pension funds. Its partner and co-founder Roland Dörig is unveiling strategic directions that should also influence political choices.

How has EIP been able to become a European player in the field of energy so quickly?
Our approach simultaneously covers two topics that are trendy among institutional investors. Firstly, in the field of energy, we defend an ecological, profitable and secure supply. Second, infrastructure is establishing itself as an asset class. What helped us is that EIP positioned itself from the outset as a specialist in these areas.

Do you share the idea that your role now goes beyond that of a purely financial investor?
Let me remind you that we are only the trustee manager of the capital of Swiss pension funds. In this way, the people of our country invest in their own infrastructure and supply. They are the ones who benefit from the economic income. The link to the public economy is central to our activities in Switzerland. In contrast to financial investors, who have an average investment horizon of 3 to 4 years, we aim at a commitment for almost perpetuity. The aim is to generate stable cash flows in the long term.

Are you implying that you are close to the assumption made by Pierre-Yves Maillard, then President of the Vaud Cantonal Government, in 2014, that strategic assets for the electricity supply must remain in Swiss hands?
On this point, we are on the same wavelength. The Swiss population must control the strategic assets; the interests of the owners must be aligned with those of the beneficiaries. It is therefore not only a question of protecting the heritage, but also an extremely sensitive aspect for us.

So much so that he decided to join a group like Alpiq, the largest Swiss electricity supplier but lacking in profitability?
Alpiq has gone through a difficult economic period, I agree. But its transformation process has begun. Above all, we have succeeded in getting the pension funds into one of the largest hydroelectric power stations in Switzerland. At the same time, we were able to buy out the French company’s shares in EDF. I am very satisfied with the excellent cooperation between the three main shareholders (Schweizer Kraftwerksbeteiligungs AG, chaired by Roland Dörig, EOS, and the consortium of small shareholders, each holding a third). Everyone’s interests are in the same direction, we complement each other well. EIP brings its expertise in the field of energy and finance. This was the very first step to take, given the difficulties we had before. Together with Antje Kanngiesser, a new CEO has been appointed. We are fully aware of the importance of this company and its facilities for the supply of electricity of the country. It is a project that is moving forward.

Today Alpiq represents above all large hydropower plants. What is the role of these?
Hydropower is a central pillar of Switzerland’s decarbonized and flexible electricity supply. We have no oil. Switzerland’s natural resource is the mountains. We therefore support this form of electricity generation, which must be maintained and cared for. This means that we have to exploit the potential for capacity expansions, but also maintain the fleet we already have, which is a real jewel. We have to ensure that the necessary investments are made to achieve these objectives.

Are commitments in the form of public-private partnerships (PPPs) possible in this context?
We never act alone, but in partnership with public authorities and electricity distributors to cover the capital requirements to ensure supply. With large hydroelectric facilities and the transmission network, we are involved in critical elements of supply. For this reason, we invest in small hydroelectric facilities when they are grouped in a portfolio.

You could also be involved in a hydropower project run by Axpo, another major Swiss electricity producer?
We are interested in all projects in the field of hydropower and all other energy infrastructures that are essential for the supply of energy.

Don’t the political framework conditions ignore the importance of hydropower, especially as a storage solution compared to batteries?
We share this view. Large-scale hydroelectric facilities must be given their rightful place at the policy level. Hydropower will be the largest, safest and most environmentally friendly storage solution in the next decade, not only in Switzerland but also in Europe. We will only be prepared to invest in battery-based solutions if battery technology takes a leap forward.

Are you committed to the political recognition of hydropower?
We have an enormous responsibility towards our investors. Our focus on the energy sector also means keeping a close eye on the political framework conditions. We have a unit dedicated to political and regulatory issues. We also have to defend the interests of our clients, Swiss pension funds, at the political level. Because these framework conditions represent a major risk factor. We need conditions that are realistic and reliable over the long term.

The full opening of the electricity market is back on the agenda. What do you think about this?
As an observer, I see that the political process is difficult. What matters to us is that this opening must be accompanied by conditions that guarantee a sustainable, cost-effective, secure and environmentally friendly supply of energy.

Is an agreement with the EU, for which Swissgrid is one of the main advocates, one of the important framework conditions?
Our electricity transmission system is connected to the whole of Europe in terms of both its physical functioning and its economic viability. It is only natural that we should define common rules. For the supply of electricity to Switzerland, which is very important to us, the functioning of the network connections must be guaranteed.

Do you expect prices on the European electricity market to rise?
There are studies that forecast prices and model demand. They establish a trend for the next decade. For each power plant in Europe, the date of its exit from the grid is known. In addition, electric mobility and heat pumps will generate additional demand. Even if consumption would only remain stable, the trend in electricity and energy prices is upward.

You also have an interest in Transitgas. Isn’t gas another energy that the Swiss Federal Office of Energy has somewhat forgotten about?
No, the federal authorities are well aware of the different scenarios for Switzerland. And this pipeline that runs through Switzerland from north to south, which has recently become bi-directional, is a stroke of political genius for Switzerland. It has convinced the Europeans, who were planning to use France as an alternative, that the current line is the best solution. It is a huge opportunity. It ensures a secure, cheap and as environmentally friendly supply as possible. Look at the proportions: 80-90% of the gas consumed in Switzerland passes through this pipe, but 90% of its capacity is used to connect Germany and France to Italy, especially northern Italy.

What do you think of the relationship between gas and electricity?
In the European context, gas plays a very important role in power generation. An exit from coal means that the share of gas, as a transitional technology, must be increased. This is because the supply has to be secured when the sun is not shining and the winds are not blowing very strong. Storage solutions, such as Power-to-Gas, are more a matter for our subsidiary companies. We prefer to invest in proven technologies. Venture capital is not part of our mandate.

You just mentioned new renewable energies. EIP’s investments in this area are mainly abroad. Why is this?
EIP is one of the top three private investors in wind farms. Europe’s largest wind farm, Fosen Vind in Norway, has just been completed. EIP has a 40% share in it. In Sweden and Finland, we work together with leading regional partners. Our principle is to invest where these technologies are fundamentally relevant. In these northern regions, there are 3,000 to 4,000 hours of full-powered wind per year. Switzerland, on the other hand, has only a quarter of this power and does not have the space required to build facilities of this scale.

How do you assess the projects or installations?
We look at which projects are best suited to the conditions in the countries in which we operate. Our goal is to make high-quality investments within a reasonable time frame. To meet our criteria, a facility must be profitable without any subsidies. Subsidies are a welcome help at the beginning, but economic independence must be aimed for. We aim at commitments until the end of the life of the installations. In this context, we prefer long-term sales contracts with electricity distributors or data centers. The interest of companies of this type attests to the relevance of a project.

Switzerland does not qualify for solar or wind energy?
No, solar energy in particular is a topic for Switzerland too. By the way, BayWa r.e. for renewable energies, in which we acquired a 49% share for our customers in December, is also by far the most important importer of solar panels in Switzerland. We may invest in solar installations directly or through our portfolio companies.

EIP in figures
Some 180 pension funds throughout Switzerland have entrusted part of their assets to Energy infrastructure partners (EIP). EIP’s first investment, which at the time was still linked to Credit Suisse, dates back to 2014. It was a CHF 50 million investment in Swissgrid. Since then, its portfolio has grown to more than one billion francs in Switzerland, and more than 3 billion in total. Based in Zurich and regulated by Finma, EIP has been operating on its own since the end of 2020 and employs 40 people.

Funds advised by Energy Infrastructure Partners acquire 49% stake in 13 GW global renewable energy platform BayWa r.e.

Zurich, December 9, 2020 – Funds advised by Energy Infrastructure Partners will invest in BayWa r.e. by means of a EUR 530m capital increase. The transaction will result in a 49% shareholding and will create significant value in the renewable energy sector.

The transaction, signed yesterday in Munich, will enable a consortium of investors advised by Energy Infrastructure Partners AG (EIP), including the Versicherungskammer Bayern, to participate in BayWa r.e.’s global renewables platform. A Munich-based global leader in the renewable energy industry, BayWa r.e. has an established photovoltaic and onshore wind project pipeline of over 13 GW that is diversified across more than 20 countries worldwide. Partnering with EIP will allow for an accelerated build-out of BayWa r.e.’s globally and technologically diversified renewables platform.

Aside from maintaining a focus on the successful project development, services and solutions business, the strategic evolvement of BayWa r.e. into an independent power producer (IPP) with an initial 3 GW target capacity by 2028 is the first step to capitalize on the full potential of the platform. The partners envisage deploying additional capital over time in order to extend the owned renewable asset base significantly.

“Our excellent relationship with BayWa as the majority partner, the impressive performance of BayWa r.e.’s management team and our proven record in large-scale renewable investments will allow us to jointly build out and develop this platform in the years to come. The strategic progression will enable institutional investors to profit from stable cash flows while accessing a renewable power generation portfolio of significant size,” commented Roland Dörig, Managing Partner at EIP.

Tim Marahrens, Co-Head Origination and Transactions at EIP, underscored the significance of the transaction given the current period of ongoing market consolidation in the sector. “We are pleased about this unique opportunity to participate in a large-scale global renewable platform.”

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Swiss manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 3 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage solutions for institutional investors globally. Its clients primarily focus on pension funds, insurances and large family offices seeking investments in long-term, stable cash flow-generating assets that also contribute to security of energy supply, positive economic and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2020 Energy Infrastructure Partners AG. All rights reserved.

Energy Infrastructure Partners announces senior hires to further strengthen market position

Zurich, December 16, 2020 – Energy Infrastructure Partners AG (EIP) is pleased to announce a number of new key hires. They include Beat Goetz, Head Global Investor Solutions, Corinna Guenther, Head Risk Management, Anna Sexton, Head Market Positioning and Caterina Mattle, Head Public & Regulatory Affairs.

“Further strengthening our team with these senior specialists will pave the way for us to achieve our goals and growth potential in the coming years, especially as we face the challenges of energy transition and building a decarbonized future,” commented Dominik Bollier, founding managing partner of EIP.

“The decades of experience brought by the strengthened management team will bolster the realization of EIP’s global trajectory and ensure that we are well-positioned when it comes to proactively tackling the shifting regulatory landscape, expanding our client base, and making our investors’ assets tangible – from wind farms in the Nordics to hydropower plants here in Switzerland,” agreed Roland Dörig, founding managing partner of EIP.

The timing of the announcement falls in line with EIP’s transformation: the company recently announced that going forward, it will operate as an independent collective asset manager after it was granted a license from the Swiss Financial Market Supervisory Authority (FINMA).

Beat Goetz, Head Global Investor Solutions, joins EIP after successfully leading the Swiss Institutional Client Coverage Team at UBS Asset Management in Switzerland and out of Singapore for the Asia Pacific Region. Goetz has more than 25 years of experience in Asset Management with a focus on institutional clients. He has played a key role in developing solutions for institutional investors to benefit from the transition in the Swiss energy market as demand for energy infrastructure investments, particularly from institutional investors, continues to grow. His strength lies in designing tailor-made client solutions.

Corinna Guenther, Head Risk Management, has gathered over two decades’ experience in the financial industry. She began her career with key roles in corporate lending and project management for strategic investments. With a number of Managing Director roles in Germany and Switzerland under her belt, Guenther was most recently Managing Director at Flossbach von Storch AG in Zurich, where she oversaw risk management and compliance.

Dr. Anna Sexton, Head Market Positioning, brings more than 15 years of experience promoting and supporting sales priorities in key markets, as well as in crisis management and transaction situations. Before joining Energy Infrastructure Partners, she was Head of Media Relations for the International Wealth Management division at Credit Suisse, actively contributing to its positioning and economic success. Previously, she was Head of Public & Media Relations at Partners Group.

Caterina Mattle, Head Public & Regulatory Affairs, represented Swiss cantonal interests in energy politics for six years as Secretary General of the Swiss Conference of the Cantonal Ministers of Energy (EnDK), where she gained an in-depth understanding of the political processes and stakeholders in energy politics. Previously, she worked in the CEO headquarters of the Nord Stream I Pipeline Project, and prior to that at The Advisory House, consulting one of Switzerland’s major energy companies on the establishment of their regulatory framework.

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Swiss manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 3 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage solutions for institutional investors globally. Its clients primarily focus on pension funds, insurances and large family offices seeking investments in long-term, stable cash flow-generating assets that also contribute to security of energy supply, positive economic and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2020 Energy Infrastructure Partners AG. All rights reserved.

Credit Suisse Energy Infrastructure Partners receives own FINMA license

Zurich, November 18, 2020 – Credit Suisse Energy Infrastructure Partners AG will act as an independent investment manager under the name Energy Infrastructure Partners AG (EIP) going forward. The license is granted conditionally and becomes legally effective as soon as Energy Infrastructure Partners AG has fulfilled all conditions of FINMA.

This strategic step will allow EIP to fully realize its global growth potential arising from the energy transition in conjunction with increasing demand and the investment needs of institutional investors by diversifying into additional geographies. In this context, the company is currently developing innovative products and working on promising investment opportunities in the energy sector. Credit Suisse Asset Management will remain an important partner in the future with continued collaboration on the distribution side.

Since its inception, EIP has exclusively focused on investment solutions in the energy infrastructure sector for institutional investors in Switzerland and abroad. This includes, among others, CSA Energie-Infrastruktur Schweiz, an investment group of the Credit Suisse Investment Foundation. Launched in 2014, CSA Energie-Infrastruktur Schweiz is the largest investment group investing in Swiss infrastructure today, with CHF 1.7 billion in capital under management and capital commitments from more than 170 Swiss pension funds.

EIP manages more than CHF 3 billion (including capital commitments) from institutional investors in Switzerland, Europe and Asia, and employs an interdisciplinary team of 40 experts. It has an extensive industry network, broad infrastructure transaction experience, a strong track record and proven partnerships with energy suppliers and the public sector. Roland Dörig, co-founder of EIP, comments: “As an independent investment manager, we are ideally positioned to fully leverage infrastructure investment opportunities for our clients.” Dr. Dominik Bollier, co-founder of EIP, adds: “We will continue to provide our clients with attractive long-term investments that generate sustainable returns and have a positive impact on energy system transformation.”

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Swiss manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 3 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage solutions for institutional investors globally. Its clients primarily focus on pension funds, insurances and large family offices seeking investments in long-term, stable cash flow-generating assets that also contribute to security of energy supply, positive economic and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2020 Energy Infrastructure Partners AG. All rights reserved.

Acquisition of a stake in one of the largest wind farms in Europe by investors advised by EIP

Zurich, June 3, 2020 – Investors advised by Energy Infrastructure Partners AG (EIP) will invest in the Markbygden II wind farm cluster in Sweden

Investors advised by EIP will acquire a majority stake in a wind farm portfolio with a nominal power of 253 MW in the northern part of the Markbygden II (“Markbygden”) wind farm cluster in Sweden. Located close to the Arctic Polar Circle in the province of Norrbotten, Markbygden takes advantage of some of Europe’s best wind resources. When full production levels are achieved by the end of 2021, the majority stake in Markbygden will generate enough power to provide more than 66’000 Swedish households with electricity. The project represents an important contribution to Sweden’s goal of reaching both 100% renewable power production by 2040 and net zero emissions by 2045.

Peter Schümers, Transaction Lead EIP, commented: “We are pleased to have signed this transaction despite the current challenging environment. Our share in Markbygden is expected to be operational by the end of 2021, with a combined annual production of 657 GWh. We are looking forward to working with the seller, Enercon, one of the world’s leading innovators in wind energy with over 30 years’ industry experience.”

The investment in the northern part of Markbygden II constitutes a brownfield transaction without construction risk, as the wind farm will be taken over upon completion of construction. The necessary work for grid connection and infrastructure for the northern part began in 2019.

When completed, Markbygden II will be one of the top 3 onshore wind farms operating in Europe by installed capacity. Enercon will retain a minority stake, securing alignment of interests and underlining Enercon’s long-term commitment.

 

Please direct enquiries to media@energy-infrastructure-partners.com.

Energy Infrastructure Partners AG
Energy Infrastructure Partners AG (EIP) is a Swiss manager of collective assets focused on high quality, large-scale renewables and system-critical energy infrastructure assets. With over CHF 3 billion under management, EIP leverages an extensive industry network, broad transaction experience and close partnerships with energy suppliers and the public sector in order to develop and manage solutions for institutional investors globally. Its clients primarily focus on pension funds, insurances and large family offices seeking investments in long-term, stable cash flow-generating assets that also contribute to security of energy supply, positive economic and social development, and the retirement provision of the population.

Disclaimer
This document does not constitute individual investment advice and does not release the recipient from making its own assessment with respect to an investment. The recipient must not take any investment decisions solely based on the information contained in this document and shall, if necessary or appropriate in consultation with external advisers, assess the information based on the recipient’s individual circumstances in terms of suitability and appropriateness and any legal, regulatory, tax, accounting or other consequences such an investment may have.

Copyright © 2020 Energy Infrastructure Partners AG. All rights reserved.