ATP buys 15% of Danish solar developer Better Energy

December 9 (Renewables Now) - Danish pension fund ATP has acquired a 15% stake in compatriot Better Energy in a move that will enable the renewable energy developer and power supplier to scale up its 10-GW solar project pipeline.

The investment is aligned with ATP’s goal to strengthen the development of Danish-produced green energy and boost green investments, the pension fund said on Friday without disclosing financial details about the purchase.

“An investment in Better Energy contains opportunities for ATP to generate attractive returns and it will also make a positive contribution to reducing CO2 emissions,” said Mikkel Svenstrup, Chief Investment Officer at ATP.

Copenhagen-based Better Energy, which is backed by French infrastructure fund manager Omnes Capital, develops, builds and operates solar parks and sells their output to customers in Denmark, Poland, Sweden and Finland. Together with Danish pension fund Industriens Pension, the company owns 21 solar parks with a combined capacity of over 1 GW. Earlier this year, it formed a partnership with Finnish solar developer Forus with the aim of building more than 1 GW of solar farms in Finland.

Better Energy’s goal is to grow its project pipeline to 20 GW between now and 2025.

Following the deal, ARP will get a seat on Better Energy’s board of directors.