Established in 2010 by an experienced group of entrepreneurial managers, Building Energy is a global independent renewable power producer (IPP) present in four continents.
Building Energy operates in an attractive sector with impressive growth expected to continue in the years, with app. 70% of the new generation capacity expected to be based on renewables by 2030. The company has expanded strongly in international markets where the development of renewable energy offers the greatest potential, in particular South Africa and the US, and currently has 94 projects in 24 countries, with a total 91MW in operation. Building Energy is one of the few players in the sector managing the entire life cycle of the plant, operating in a vertically integrated manner and playing an active role in the stages of development, construction and maintenance of the plants.
THCP, after establishing a close relationship with the current, long-standing experienced management team, stood out as the ideal partner to team up with in order to raise €30 million equity needs to support future expected growth. The investment will be made via a combination of debt & equity: a subscription to a €30 million bond, listed in the ExtraMOT of the Italian Stock Exchange, and an equity investment of €5 million in order to acquire a minority stake in the Group. This will support the company’s financial requirements in order to fund a pipeline of investment in the US, South Africa and East Europe.
THCP will strive to accelerate the company’s growth, supporting the management team in investing in the construction of 90.5MW “Near Notice to Proceed” projects, based on the 3 technologies covered by Building Energy (Biomass, Solar Photovoltaic and Wind) and located in Sub-Saharan Africa, North America and Eastern Europe.
Mauro Moretti, founder of Three Hills Capital Partners, commented: "The investment in Building Energy is a testament to the focus of Three Hills Capital Partners in identifying and supporting success stories, led by ambitious management teams with a strong commitment to international development. We are determined to support the vision of Fabrizio Zago and the team around him that in recent years has managed to build a unique integrated business model in the renewable energy sector with strong exposure to emerging markets.”
THREE HILLS CAPITAL PARTNERS
Three Hills Capital Partners is a pan-European investment platform founded in 2013 based in London. The company has two funds under management - Three Hills SICAV I and Three Hills Decalia – which are focused on investments in preferred capital instruments. It currently has approximately €200 million in assets under management with investments into successful mid-market companies including Aquafil, Dedalus, Hunter and Byron.
For more information visit www.thcp.eu.