NatPower, a leading renewables developer, has secured a significant €50 million investment from Vinci to bolster its portfolio of renewable energy projects on a global scale.
The investment entails Vinci’s acquisition of a 10% stake in NatPower from its founder, Fabrizio Zago, and the Tyrus Capital fund. Additionally, Vinci will subscribe to convertible bonds, providing the opportunity to increase its ownership stake over time and potentially exercise an option to assume control of NatPower.
As part of the agreement, Vinci gains priority rights to acquire ready-to-build projects undertaken by NatPower. This strategic alliance also includes a collaborative effort to develop renewable energy projects, primarily focusing on solar and onshore wind initiatives, within the United States. NatPower’s robust project portfolio in the US, totaling 1.2GW, along with approximately 2GW of projects in the preliminary stages, will be leveraged for this endeavor.
To facilitate this joint venture in the US, Vinci will establish a subsidiary-controlled entity through Cobra IS.
Furthermore, NatPower’s expertise will accelerate the development of renewable energy storage projects, particularly in the United Kingdom.
Commenting on the partnership, NatPower’s CEO, Fabrizio Zago, emphasized its strategic significance in advancing the company’s growth trajectory with the backing of a global player like Vinci.
Zago stated, “The partnership with Vinci is an important strategic objective that will allow NatPower to further accelerate the implementation of its growth strategy through the support of a global player. Our team has extensive experience in the development of renewable energy projects, and this transaction allows us to accelerate growth and international development in several markets where we already operate, such as the United States and the United Kingdom.”