I Squared Capital has signed an agreement to acquire up to 95 percent of Absolute Energy, an investment platform focused on renewable energy and broader energy-transition technologies, in an exclusive transaction.
I Squared will invest up to €400 million ($429 million) in Absolute Energy for the development and construction of a 3-gigawatt pipeline of solar photovoltaic, wind and storage projects in Italy. The platform also will target adjacent technologies that address the challenges of intermittent power generation, such as battery storage, grid stability and clean fuels.
“I Squared is excited to contribute our capital and our expertise to the continued growth of Absolute Energy, whose robust project pipeline will be critical to the energy transition in Italy,” said Gautam Bhandari, global CIO and managing partner at I Squared Capital. “This investment uses our platform building expertise to convert a large pipeline of renewables projects into a modern, integ