Florida-based I Squared Capital announces acquisition of Absolute Energy
In Florida, I Squared Capital announced that it has signed an agreement to acquire, in an exclusive transaction, up to 95% of Absolute Energy, an investment platform focused on renewable energy and broader energy transition technologies.
I Squared plans to invest up to $423 million into the company for the development and construction of a 3.0-gigawatt pipeline of solar photovoltaic, wind and storage projects to deliver low-cost, clean power and promote energy security in Italy.
The platform will also target adjacent technologies that address the challenges of intermittent power generation, such as battery storage, grid stability and clean fuels, the company said.
“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, integrated energy utility that champions energy transition in Europe.”
I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 230 professionals across its offices in Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney.
