Global investment management firm Davidson Kempner Capital Management LP and private equity firm Nature Infrastructure Capital (NIC) have jointly acquired a Netherlands-based solar and storage project development platform from Greencells Group.
The development platform specializes in the acquisition, development, financing and operation of renewable energy projects. It currently boasts a project portfolio of nearly 4 GW of utility-scale solar and battery projects in Europe and Canada, with a further 800 MW of projects at the ready-to-build stage.
The transaction, which was made for an undisclosed sum, will result in the platform operating as a standalone venture. It will be led by current Greencells CEO Andreas Hoffman, under the joint ownership of Davidson Kempner and NIC.
According to a statement from the companies, the platform plans to continue expansion in key active markets as well as into select new markets.
Hoffman said the sale marks a significant milestone in Greencells’ growth journey.
“After several years of growing our development platform under the leadership of the Zahid Group, we are proud to see the size and quality of the portfolio created by our teams grow across Europe,” he added.
