I Squared Capital to Acquire Majority Stake in Absolute Energy to Strengthen Energy Transition Strategy.

MANews-(C)2009-2023

US-based investment manager ISquared Capital has agreed to acquire up to 95% of Iowa-based renewables developer Absolute Energy, to boost energy transition strategy, the company said.

I Squared plans to invest up to EUR 400m (USD 421m) into the company for the development and construction of a 3.0-gigawatt pipeline of solar photovoltaic, wind and storage projects to deliver low-cost, clean power and promote energy security in Italy.

The platform will also target adjacent technologies that address the challenges of intermittent power generation, such as battery storage, grid stability and clean fuels.

The transaction advances I Squared's strategy to support the global energy transition by investing in, developing, and scaling assets and technologies that accelerate the transition to a low carbon energy system.

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