Partners Group, a Switzerland-based private equity firm, has agreed to acquire 80% stake in renewable energy developer VSB Group for an undisclosed amount.

The founder of VSB Group Andreas Dorner will retain the remaining 20% stake alongside Partners Group, the company said.

Established in 1996 in Germany, VSB Group is a developer of renewable energy, focusing on wind, solar and bioenergy. The company operates across the renewable energy value chain ranging from project development to asset management and technical and commercial management of operational sites. It also offers a broad range of energy solutions.

VSB Group founder and managing director Andreas Dorner said: “VSB has enjoyed great success to-date as an independent, multinational company. However, given the vast opportunity for renewable energy, we wanted a like-minded partner to accelerate our next phase of growth.

“In Partners Group, we have found a global partner with significant operational resources and a wealth of international experience in hands-on renewable energy investment. We are looking forward to building on our shared values as we grow VSB together.”

VSB Group manages 1.4GW in wind assets

To date, VSB Group claims to have built more than 1.1GW in onshore wind and solar photovoltaic (PV) generating assets and manages over 1.4GW in wind assets.

Expanding from its German headquarters in Dresden, VSB is actively present across eight European countries, supported by a staff of 300, 19 offices and ten service hubs.

Partners Group private infrastructure Europe management member David Daum said: “We are very excited to partner with VSB to support its continued growth at a time when climate change sits high on political and social agendas.

“The Company’s proven development track record, strong and engaged management team, and sizable project pipeline make it an excellent fit for Partners Group’s platform expansion strategy.

“VSB is very well-positioned to capitalize on increased demand for environmentally-friendly sources of energy throughout Europe; we believe it has potential to become the preeminent European renewable energy platform. We will work closely with the management team to realize this ambition by leveraging our experience of institutionalizing businesses to accelerate the conversion and development of VSB’s renewable energy pipeline.”

Last August, Partners Group had invested in the 244MW Bango Wind Farm, a construction-ready wind farm in New South Wales, Australia, whose total project value is A$500m ($343m).

To be powered by 46 of GE Cypress 5.3MW turbines, it will be the first wind farm in the world to use this turbine type. Once completed, the wind farm is expected to generate enough clean energy to power 100,000 Australian households, while offsetting 600,000 tonnes of carbon emissions annually.