Sixth Street has agreed to acquire a 38% stake in Sorgenia, valuing the company at €4 billion ($4.6 billion).
The deal marks Asterion Industrial Partners’ exit and consolidates F2i’s leadership with a 62% stake and expanded renewable portfolio.
Sorgenia now controls 1,700 MW of installed capacity and is developing a pipeline of 5,000 MW across Europe.
U.S. investment firm Sixth Street has announced its acquisition of a 38% stake in Italian renewable energy company Sorgenia, in a transaction that values the business at €4 billion ($4.6 billion).
The deal enables Spanish infrastructure fund Asterion Industrial Partners to fully exit its 27.6% stake in Sorgenia. F2i, Italy’s primary infrastructure fund, will remain the company’s majority shareholder with a 62% stake.
As part of the agreement, F2i will consolidate its renewable energy portfolio by transferring its solar and wind assets—EF Solare, Renovalia, and Renovalia Tramontana—into Sorgenia. This move strengthens Sorgenia’s platform in both the Italian and Spanish markets.
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“This agreement establishes Sorgenia as one of the leading energy infrastructure platforms in Europe,” said Richard Sberlati, Partner at Sixth Street.
Sorgenia operates a diverse renewable portfolio that includes solar, wind, biomass, and hydroelectric assets. It currently manages around 1,700 megawatts (MW) of installed renewable capacity, with active development projects totaling an additional 5,000 MW.
Rothschild & Co and law firm Cleary Gottlieb advised Sixth Street on the deal. F2i received financial counsel from Lazard, Intesa Sanpaolo, and Mediobanca, while legal advice was provided by Pedersoli Gattai. BofA Securities, Nomura, and Société Générale each advised one of the F2i funds involved.
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