Our Corporate Energy Transition team has advised Pioneer Infrastructure Partners II SCSp, the second institutional fund managed by Pioneer Point Partners LLP, on its first investment in Yeager Energy B.V., a Dutch geothermal platform that develops, builds, owns and operates geothermal energy projects for the horticulture and residential sectors.
Pioneer, together with Yeager's existing shareholders, have committed €100 million to the platform. The initial investment will be used to acquire two operational geothermal businesses to merge into Yeager's existing platform. The first acquisition of a majority stake in Aardwarmte Vogelaer was completed in early January, with the second acquisition expected to close in Q1 2025.
The investment from Pioneer and Yeager's existing shareholders, including Kerogen Capital, will also support Yeager's existing development pipeline, provide working capital and support future growth, advancing its strategic vision to create a leading geothermal platform in the Netherlands.
Principal Associate Chelsie Taylor and Partner and Global Energy Transition Sector Co-Lead Gareth Baker led on the transaction, working with Hannah Gough (Corporate) and Gus Wood (Commercial Energy and Energy Regulation).
Gowling WLG's multi-disciplinary Energy Transition Sector team has a first-class reputation regarding renewable and clean energy, operating seamlessly around the globe. The team has previously advised
Pioneer Point Partners on its on €60 million institutional fund investment to Ireland biogas platform and acquisition of a majority stake in the share capital of PerPetum Europe N.V. The team has also been advising on transactions across a range of energy transition technologies and transactions, including Atrato Onsite Energy plc on the disposal of its portfolio of solar assets for c.£219 million to a joint venture owned by a global investment firm and Brockwell Holdings on acquisition of RNA-Energy. The firm has strengthened its Energy Transition Sector team with the appointment of Corporate Partner Will Glover.