Macquarie Asset Management Plans Stake Divestment from Hydro Dolomiti Energia

Macquarie Asset Management to Sell Stake in Hydro Dolomiti Energia to Consortium

Macquarie Asset Management has entered into an agreement to divest Macquarie European Infrastructure Fund 4’s 40% stake in Hydro Dolomiti Energia (HDE) to a consortium composed of Equitix Euro Funds, Tages Capital SGR S.p.A., and La Finanziaria Trentina S.p.A., alongside local industrial co-investors and institutions. The transaction values HDE at approximately €1 billion.

HDE operates 29 hydropower plants across Trento, Italy, with a total installed capacity of 1.3 GW. These facilities collectively generate electricity equivalent to powering about one million homes annually.

Stéphane Brimont, Managing Director at Macquarie Asset Management, emphasized the strategic importance of hydropower in the energy transition, highlighting HDE’s role in providing reliable, clean energy amidst Italy’s increasing adoption of solar and wind power. He expressed confidence in HDE’s future under new ownership while acknowledging its contributions to local economy and expertise development during Macquarie’s tenure.

Macquarie European Infrastructure Fund 4 initially invested in HDE in 2016, collaborating with Dolomiti Energia Group to enhance asset conditions and support long-term strategic goals.

Equitix Investment Management Limited CEO, Hugh Crossley, underscored HDE’s critical role in Italy’s energy security and transition to renewable energy. Equitix, a longstanding investor in Italian infrastructure and renewables, looks forward to continuing its partnership with Dolomiti Energia Group, a shareholder since 2021.

The transaction remains subject to customary closing conditions, including Dolomiti Energia Group’s pre-emption right. Financial closure is anticipated by Q4 2024.

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