Igneo Infrastructure Partners / Green Squares EnergyWA-95035

Parties

Summary

Igneo Infrastructure Partners, via its fund Australia New Zealand Diversified Infrastructure Fund and investment vehicle Vertis Bidco Pty Ltd, is undertaking a 100% share acquisition of Green Squares Energy. Green Squares Energy is an Australian renewable energy and electricity contracting solutions business, focused on financing commercial behind-the-meter projects and owning renewable energy assets.

Acquisition details

Vertis Bidco Pty Ltd ( Bidco ) is an investment vehicle which will be 100% owned and operated by Vertis Energy, a company 100% owned and operated by the Australia New Zealand Diversified Infrastructure Fund (Active) ( ADIF ). ADIF is a fund managed by Igneo Infrastructure Partners ( Igneo ) and is owned by its underlying investors, largely comprised of Australian superannuation funds and institutional investors. Bidco will acquire 100% of Green Squares Energy by way of a Sale and Purchase Agreement. Igneo is a global infrastructure investment manager and the direct infrastructure arm of the First Sentier Group, a global asset management organisation headquartered in Sydney. It specialises in long term investments in mature, mid-market infrastructure businesses across sectors such as renewables, digital infrastructure, waste management, water utilities, transportation and logistics, with activity spanning Australia, New Zealand, Europe, the UK and North America. Igneo via First Sentier Group is ultimately controlled by Mitsubishi UFJ Financial Group Inc. Igneo 100% owns and operates Atmos Renewables Pty Ltd ( Atmos ), an Australian renewable energy independent power producer focused on owning, developing and operating large scale wind, solar and energy storage assets across Australia. Atmos holds a substantial portfolio of utility scale renewable generation projects distributed across multiple National Electricity Market states, supplying clean electricity to the grid and large energy users. Igneo is also a majority investor in Clean Peak Energy Renewable Investment Trust ( CPERI ), a joint venture with CleanPeak Energy, which develops, owns and operates distributed renewable energy and multi-utility infrastructure assets at residential, commercial and industrial sites, including solar, battery storage and embedded network solutions supplying on-site electricity and related energy services to customers. Green Squares Energy Pty Ltd and Green Squares Energy Trust together trade as Green Square Energy (together, Green Squares Energy ). Green Squares Energy is an Australian energy business focused on renewable energy and electricity contracting solutions. It is primarily involved in structuring and financing commercial behind the meter renewable energy projects, including power purchase agreements, and supporting investment in solar and related clean energy projects. It also owns 2 front of the meter renewable energy assets which are connected to the NEM.