3i Infrastructure PLC Further investment in VALOREM to support growth (7952V)
December 16 2021 - 12:59AM
UK Regulatory
TIDM3IN
RNS Number : 7952V
3i Infrastructure PLC
16 December 2021
3i Infrastructure plc invests further in VALOREM to support
growth
16 DECEMBER 2021
3i Infrastructure plc ("3i Infrastructure" or the "Company")
announces that it has agreed to invest a further EUR25m into
VALOREM through a capital increase to fund its growth, raising the
Company's stake in VALOREM to c.33%.
VALOREM is one of the largest independent renewable power
producers and developers in France, with additional operations in
Finland and Greece. 3i Infrastructure's funding will support the
continued growth in VALOREM's installed base of operational assets
and development pipeline.
Since 3i Infrastructure's original investment in 2016, VALOREM
has almost tripled its asset base to 0.5GW and has more than
doubled its EBITDA. VALOREM has also diversified into solar and
hydro, expanded internationally and built a healthy wind and solar
pipeline of over 5GW.
VALOREM is well positioned to take advantage of France's
ambition to increase renewable energy generation to 40% (from 27%
currently) by 2030 and to benefit from ambitious renewable power
development programmes in Finland and Greece.
Phil White, Managing Partner and Head of Infrastructure, 3i
Investments plc, Investment Manager of the Company, commented:
"VALOREM has performed very well since our investment in 2016,
under the leadership of its founding management team, and we are
delighted to be investing further capital to enable VALOREM to take
advantage of the strong growth prospects ahead."
-ENDS-
For further information, contact:
Thomas Fodor Tel: +44 207 975 3469
Investor enquiries Email: thomas.fodor@3i.com
Kathryn van der Kroft Tel: +44 20 7975 3021
Media enquiries Email: kathryn.vanderkroft@3i.com
Notes to editors:
3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended
investment company and an approved UK Investment Trust, listed on
the London Stock Exchange and regulated by the Jersey Financial
Services Commission. The Company's purpose is to invest responsibly
in infrastructure, delivering long-term sustainable returns to
shareholders and having a positive impact on its portfolio
companies and their stakeholders.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc,
is authorised and regulated in the UK by the Financial Conduct
Authority and acts as Investment Manager of 3i Infrastructure
plc.
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END
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