Renewable energy developers Renantis and Ventient Energy are planning to merge with the intent to create one of the largest renewable independent power producers (IPPs) in Europe with a combined installed capacity of 4.2GW.

Both clean energy companies are owned by institutional investors advised by the Global Infrastructure group at J.P. Morgan Asset Management.

The total installed capacity of the integrated business will be spread across more than 200 plants.

Renantis and Ventient Energy have a development pipeline of 18GW which includes floating offshore wind, onshore wind, solar photovoltaic (PV), energy storage and green hydrogen projects.

By combining Renantis’ development strength with the operational excellence of Ventient Energy, both firms aim to create one of the top five European onshore wind IPPs.

Besides, the merged business will own, develop and operate a diverse renewable energy asset portfolio.

Formerly known as Falck Renewables, Renantis has a total capacity of 1.42GW across nearly 70 renewable energy plants.

The company owns 17GW pipeline of projects that comprises 8.6GW of floating offshore wind projects in development in Italy and the UK.

Renantis CEO Toni Volpe said: “Together, we will create an organisation that will allow us to accelerate towards building a better future for people and the planet.

“Both companies share aligned values, purpose and culture, so this integration is a natural step in the strategic evolution of our businesses.”

Founded in 2017, Ventient Energy has 2.8GW of installed onshore wind capacity and integrated energy market solutions across 145 sites.

Ventient Energy ad interim CEO Kevin McCullough said: “The synergies and complementary expertise that already exist will allow us to reach as yet untapped potential.

“Standing alone, our businesses are making positive steps to accelerate the energy transition and build a more sustainable energy future. But together those steps become strides, which we can transform into future leaps.”

Following the merger, the combined company intends to continue to offer customised energy management, asset management and technical advisory solutions.

The combination will also bring more than 750 Renantis employees and 250 employees from Ventient Energy to a single organisation.

The companies anticipate operating as a combined firm in 2024.