SolarAccess Investment Fund I BV is the new Holdco of SolarAccess for all the new Wavin rooftop solar PV assets in Europe. Triodos Energy Transition Europe Fund provides a shareholder loan and acquires a large minority equity stake in this new SPV. The capital will be used to fund the development of the assets and contribute to Wavin’s ambition to reach net zero carbon emissions by 2050. The generated renewable electricity will be used on site by the different Wavin entities, based on a Power Purchase Agreement with a fixed power price of 20 years.
Net zero carbon emissions
Wavin is an innovative solutions provider for the global building and infrastructure industry. The Dutch-originated company offers a wide range of solutions for safer drinking water supply, better sanitation and drainage, urban climate and flood resilience and indoor climate control.
SolarAccess is a system integrator that works with multinational customers to realize self-consumption solar energy installations at their locations. The company has installed rooftop solar assets on Wavin premises in the Netherlands, Poland and Sweden. It will further expand the construction and operations of both rooftop and on the ground solar assets on premises in the multiple sites in the UK, France and Germany.
While the assets in the Netherlands, Poland and Sweden are already operational, the projects in France and the first project in the UK are under construction. The ground mounted projects in Germany and a second installation in the UK are scheduled for construction end of 2023/early 2024.
Triodos Energy Transition Europe Fund and SolarAccess have a long-standing and successful relationship dating back to 2005. The fund holds equity stakes in a portfolio of over 60 rooftop solar assets at different entities, built and operated by SolarAccess.
Frans van Schoor, CEO at SolarAccess: “We are delighted with the collaboration with Wavin and Triodos Energy Transition Europe to realise solar installations. With this collaboration we can achieve a sustainable impact in Europe at Wavin's locations.”
Anneleen Veldhuizen, Sustainability Manager at Wavin: “Our partnership with Solar Access supports us in rolling out our renewable energy strategy in Europe. Since our first project in the Netherlands, we are very satisfied with our collaboration and looking forward to finalizing the scheduled projects”.
Senior Investment Manager Michiel van Beek: “With this investment we build upon a solid and successful partnership with SolarAccess, allowing us to enter new jurisdictions and help Wavin to become net zero”.
The investment in the Wavin portfolio further diversifies the fund’s geographical impact and contributes to its sustainable investment objectives of increasing the proportion of zero emission energy in Europe while also supporting entrepreneurs to accelerate the energy transition.