Antin acquires SNRG, a UK smart grid developer and operator


The acquisition represents the first investment in its NextGen strategy


Antin Infrastructure Partners (“Antin”, Ticker: ANTIN – ISIN: FR0014005AL0) announced today that it has reached an agreement to acquire a majority stake in SNRG, an owner-operator of fully integrated smart grid systems for the residential, industrial and commercial. customers.

This acquisition is the first made by Antin as part of its NextGen strategy announced last year. SNRG offers an innovative solution to decarbonize buildings while allowing its customers to make significant savings. Building emissions contribute around 20% of the UK’s total CO2 emissions due to a historical reliance on fossil fuels, including gas, to provide heat to buildings. For the UK to meet its Net Zero 2050 targets, it will need to reduce these emissions by 40% by 2030.

SNRG offers its customers a “one stop shop” for smart grid solutions including grid connections, distribution networks, solar photovoltaic panels, batteries, heat pumps and community electric vehicle charging. This integrated approach – design, finance, build and operate – combined with SNRG’s optimization technology will maximize initial and ongoing cost savings and carbon emissions reduction for customers.

SNRG was established in 2018 with the backing of Centrica, a leading provider of energy services and solutions, and Centrica will retain a stake in the company. SNRG has a high quality management team that has significant experience in scaling businesses in energy and technology. SNRG has established strong relationships within the developer community as well as expertise in delivering software and infrastructure solutions.

Shane Hussain, CEO of SNRG said: “As the all-electric, zero-carbon transition accelerates in the home and non-home construction sectors, customers are looking for next-generation infrastructure solutions. Antin’s investment in SNRG along with Centrica’s continued involvement will allow us to scale quickly and meet the demands dictated by politics and society. We look forward to delivering low and zero carbon buildings across the UK.”

Anand Jagannathan, Senior Partner of Antin NextGen, commented: “With its first project implemented and a proven concept to deploy, we felt that SNRG was the right company to launch our NextGen strategy with, as it focuses on value-added investment in sustainable, scalable and connected assets. . We are delighted to have the opportunity to support SNRG in achieving the next phase of its growth, through the construction of a significant and identified pipeline of projects acquired through its relationships with leading developers.

Financial details of the transaction were not disclosed. The transaction is expected to close in April 2022.

White and Case and Gowling WLG acted as legal advisors to Antin. Osborne Clarke acted as legal counsel to SNRG and Freeths LLP acted as legal counsel to Centrica.

About the SNRG

SNRG is a smart grid developer, installer and operator in the UK. The company was established in 2018 with the support of Centrica with a mission to provide decarbonization solutions to households as well as industrial and commercial customers. The company’s innovative solution allows customers to save money on their energy bills in addition to decarbonizing their energy consumption. SNRG today has a first live project in Corby, UK which has successfully demonstrated the business model of saving money for residents while providing low carbon energy.

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm specializing in infrastructure. With more than €22.7 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, telecommunications, transport and social infrastructure. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs more than 165 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to companies. portfolio and investors. Majority-owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).


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