Renewable energy investor Climate Change Capital Private Equity (CPE), a €200m fund dedicated to clean technology, has invested €10m in Enerqos, an Italian solar construction company.
As part of the transaction, CPE will become the only institutional investor in Enerqos and will be represented by Bruno Derungs on Enerqos’ board.
Headquartered in Monza, Enerqos specialises in the construction of large scale solar farms. The company will use the capital injection to develop its presence in the European photovoltaic (PV) construction market and to fund additional solar farms in France, Italy and Greece.
Bruno Derungs, partner in CPE said: “After carrying out market analysis, CPE recognised Enerqos’ status as a leading engineering company in the photovoltaic market. Enerqos has positioned itself in this way due to its management team, presence and exposure to the fastest growing photovoltaic markets in Europe.”
Legal advice for the transaction was provided by Gianni, Origoni and Grippo Partners and Watson, Farley and Williams.