PKA publishes on its website:
PKA, through the asset manager AIP Management, has entered into an agreement to buy a share in the leading French energy company VALOREM.
The French energy company specializes in the development of renewable energy infrastructure, including solar, wind and hydropower. With the investment, PKA and the other investors in AIP, who i.a. counts the Danish pension funds PenSam, Lærnernes Pension and AkademikerPension as well as Norwegian Storebrand, a new step in its joint investment strategy.
This is what Investment Director at PKA Michael Nellemann Pedersen tells us.
“Since PKA established AIP in 2012, we have focused on investing in existing energy infrastructure, but for a long time we have wanted to get into the process earlier and invest more in the development of energy projects. VALOREM has both a good existing portfolio of infrastructure and a strong pipeline of projects to be developed in the coming years. Therefore, it is a good supplement to our existing investments in AIP,” he says.
Investment takes place in a consortium with, among others, the asset manager IDIA, which is part of the Credit Agricole group. Together, the investors in the consortium buy 33% of the company. At the same time, an agreement has been reached that the investors inject capital into VALOREM’s future projects.
It is part of a larger capital raising to finance VALOREM’s future growth. The company’s founders will remain in VALOREM with a significant ownership stake.
VALOREM has over 30 years of experience in developing energy infrastructure, and the company has proven over time to be able to develop well-run projects. Therefore, PKA and AIP also see a potential in supporting the company’s continued growth.
“It is part of our overall goal to create long-term value for our members, while at the same time taking responsibility for transitioning the energy infrastructure to a greener future. It shows the value of AIP Management’s strong position in the market for green energy infrastructure, because without it this transaction would not be possible,” says Michael Nellemann Pedersen.
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