APG has increased its stake in renewable energy company Kallista Energy through the acquisition of an additional 38% interest, together with Pensionskasse Stadt Zürich (PKZH).
APG remains the majority shareholder, while PKZH joins as a minority investor. The transaction also marks the exit of Ardian, which has supported Kallista’s development over the past 17 years. The acquisition combines continuity in ownership with new capital for further expansion.
Renewable energy platform in Europe
Headquartered in France, Kallista develops and operates onshore wind and solar assets and is expanding into battery energy storage systems. The company operates in France, Germany and the Netherlands and focuses on developing new renewable energy projects.
Partnership with long-term focus
APG and PKZH both invest with a long-term horizon and have previously worked together in infrastructure equity. In Kallista, they now invest directly alongside each other. With APG as majority shareholder and PKZH as new partner, the shareholder base remains focused on long-term growth of renewable energy and storage activities in Kallista’s core European markets.
Marjolaine Lopes, Senior Portfolio Manager at APG, said: “We would like to thank Ardian for their partnership and support in the development of Kallista to date. Having supported the company’s growth over the years, our decision to increase our investment reflects our conviction in Kallista’s role in accelerating the build-out of renewable energy capacity in Europe. We are also pleased to welcome PKZH as a new long-term partner and look forward to working together to support the next phase of the company’s development.”
See the full press release.