Aviva Investors has finalized a €40 million investment in Connected Infrastructure Capital (CIC), a German-based renewable energy developer. The deal grants Aviva Investors a majority stake in CIC, which specializes in the development and management of onshore wind and solar projects across northern and central Europe.
The investment is expected to provide CIC with the necessary capital to support its ongoing development activities and expand its project pipeline. The transaction marks Aviva Investors' second recent investment in the European renewables sector, following its decision to increase its stake in Innovo Renewables, an Italian developer with a portfolio spanning Italy, the UK, and Spain.
Founded in 2018, CIC focuses on developing, constructing, and operating renewable energy projects across Europe, particularly wind and hybrid (wind and solar) projects. The company has a secured portfolio of approximately 1 gigawatt (GW) of projects in development, and it has already developed and sold 100MW of wind projects in central Europe, which it continues to manage. CIC also owns an operational wind farm in Sweden.
Angenika Kunne, Head of Infrastructure Equity at Aviva Investors, commented on the strategic nature of the investment: “This transaction shows we are doubling down on our exposure to renewables, a mature asset class which we believe can deliver good long-term outcomes whilst supporting the energy transition. We are very pleased to be partnering with CIC, an experienced team which has been able to demonstrate strong historical performance and has secured an exciting portfolio of development assets.
Kunne added, “We believe this positions us well to benefit from increased allocation to renewables and in a way which promotes diversification across regions and technologies.”
Lena Schleyer, Managing Director of CIC, expressed confidence in the partnership, stating: “Aviva Investors stepping in as a shareholder allows CIC's next growth phase to begin. We are happy and proud to now bundle forces with such a strong and reputable partner.
