Spanish investment firm Alantra and energy company Enagás, through its affiliate Enagás Emprende, has reached the final close of their energy transition fund with €210 million in commitments. Dubbed the Klima Energy Transition Fund, the oversubscribed fund had an initial target of €150 million.
So what’s Klima serious about? The fund takes minority stakes in companies with high growth potential in energy transition sectors such as low carbon solutions, smart power grids, energy storage, renewables and enabling technologies, digitalisation of the whole energy equation, energy efficiency in hard-to-abate sectors, and sustainable transportation.
The fund has already completed three investments with diversification in terms of countries and sectors, including US-based power generator Mainspring, Swiss weather forecast predictor Meteomatics, and Swedish decentralised integrated solar company SunRoof.
The oversubscribed fund was backed by European Investment Fund, which is a part of the European Investment Bank Group. Other commitments to the fund include institutional investors, energy-related companies, public and European institutions, and family offices. Alantra and its shareholders, Enagas, and the investment team have made a significant joint commitment as well.
Jacobo Llanza, CEO of Alantra Asset Management said: “Investors are looking for experienced partners who can guide their contribution to transform our energy model by accessing new and clean energy sources. We have built, together with Enagás, an investment vehicle that is not only a capital provider but also an operating partner to fast-growing companies aiming to decarbonise the economy.”
Arturo Gonzalo, CEO of Enagas and Jesús Saldaña, business development and general manager of Enagás added: “Klima fund is anticipating the decarbonisation challenges arising from the new global energy paradigm and is aligned also with the European strategy REPowerEU to reach a self-dependent and decarbonised market. Throughout this fund, Enagás is playing a role to help these objectives come true.”
“Representing approximately three quarters of greenhouse gas emissions, the energy space needs smart money to scale up impactful innovation,” added Alain Godard, CEO of the European Investment Fund.