Renewables developer NatPower has secured a €50m investment from Vinci to bolster its portfolio of renewable energy projects worldwide. The investment involves Vinci acquiring a 10% stake in NatPower from founder Fabrizio Zago and the Tyrus Capital fund. It also includes the subscription to convertible bonds, enabling Vinci to potentially increase its shareholding over time and exercise an option to take control of NatPower.
As part of the agreement, Vinci will have priority rights to acquire ready-to-build projects undertaken by NatPower. Additionally, the deal includes a joint development agreement for renewable energy projects, primarily focusing on solar and onshore wind, in the United States. NatPower's portfolio in the U.S. comprises projects totaling 1.2GW, along with approximately 2GW of projects in the preliminary phase. To facilitate this, a joint venture controlled by Vinci's subsidiary Cobra IS will be established in the United States.
The partnership with Vinci will also enable NatPower to expedite the development of renewable energy storage projects, particularly in the United Kingdom, leveraging NatPower's expertise in the field.
Fabrizio Zago, CEO of NatPower, expressed the strategic significance of the partnership, stating, “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.”
