Renewable energy provider Renantis and renewables business Ventient Energy have joined forces intending to become “one of the largest renewable independent power producers (IPPs)” in Europe.
Collectively, the new company will have an installed renewable energy capacity of 4.2GW and an 18GW pipeline comprised of onshore and floating offshore wind, solar photovoltaic (PV), energy storage and green hydrogen projects.
Headquartered in Italy, Renantis has a 1,420MW of capacity across 70 sites, including 8.6GW of floating offshore wind projects in development – 3.1GW of which are in the UK.
The pan-European company, Ventient Energy, will bring 2.6GW of installed onshore wind capacity across 145 sites with a further 1GW collocated pipeline of solar PV.
Rentantis CEO Toni Volpe, who will lead the new organisation said: “Sustainability and people are at the centre of everything we do at both Renantis and Ventient Energy. 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.”
The combined organisation – including over 750 Renantis employees and 250 from Ventient Energy – is set to continue delivering customised energy and asset management, alongside technical advisory solutions.
“This is an exciting milestone in the growth of our companies. The synergies and complementary expertise that already exist will allow us to reach as yet untapped potential,” added Kevin McCullough, ad interim CEO of Ventient Energy.
“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.”
Both companies have begun the integration process and expect to operate as a whole unit in 2024.