White Summit Capital, the decarbonisation and energy security infrastructure specialist, announced today that it has completed the first close of White Summit Capital Decarbonisation Infrastructure Fund II (WDIF-II), surpassing 50% of its target size of €500 million.
White Summit Capital has secured total commitments of over €350 million from more than 10 blue-chip institutional clients, including the European Investment Fund, global asset managers, insurance companies, other institutional investors and family offices. A second close of WDIF-II is expected during the second quarter of 2025.
WDIF-II aims to address the deep funding gap in the energy transition and energy security sector by supporting middle-market infrastructure companies across Europe to scale up their asset base.
The fund will invest in 8 to 10 companies with strong management teams within three key verticals where White Summit Capital has a proven track record: Renewables Integration, Sustainable Transportation and the Decarbonisation of Industries. These investments will draw on the White Summit Capital team’s unique expertise within energy infrastructure investing, greenfield development, industrial partnerships and energy management.
Europe’s need to improve its energy self-reliance and security, while ensuring economically competitive access to a more sustainable energy, creates strong tailwinds for new investments in WDIF-II’s focus areas.
Gonzalo López Medina, Managing Partner, said: “The convergence of energy transition and energy security within our target markets make WDIF-II the perfect partner for industrial companies, management teams and platforms seeking to gain scale. We are very excited to see a tremendous off-market deal flow opportunity in the mid-market space, which caters very well to institutional co-investment structures where White Summit Capital has a decade-long expertise.” White Summit Capital expects the investments made by WDIF-II to comprise an initial robust asset base, followed by further capital deployment opportunities through growth and repurposing. Investors will also be able to co-invest in the businesses managed by WDIF-II.
Pablo Pallas, Managing Partner, added: “Decarbonising our economy is both a necessity and a generational investment opportunity. This fund is designed to tackle this unquestionable long-term trend while offering our investors immediate robust and future-proof infrastructure investments.”
WDIF-II is managed by White Summit Capital Management S.G.E.I.C., S.A.U., an alternative-investment fund manager authorised and supervised by the Spanish Securities Market Commission.
Seed Transactions in Downside-Protected Platforms
Concurrently with the first close of the fund, White Summit Capital has secured its first two seed transactions in high-quality, downside-protected platforms, with strong management teams and significant value creation opportunities:
• Powesco, a platform offering funded energy efficiency-as-a-service solutions in tertiary buildings across France. With an attractive long-term service contract model, Powesco allows private companies and public administrations to dramatically reduce their consumption without the burden of upfront capital requirements, ensuring both financial and environmental sustainability. Powesco enjoys a strong existing customer base developed over the last decade by its management team. Additionally, it is strategically positioned to seize a €40 billion market opportunity, driven by the ability to reduce energy bills and French regulations requiring buildings over 1,000m² to reduce energy consumption by 60% by 2050. The agreement has been signed, subject to customary approvals, with closing expected in early 2025.
• Transiziona, an Iberian hybridisation and renewable integration platform, has secured its first investment, which aims to combine hydro, wind, solar and storage technologies to mitigate intermittency and create a stable and attractive return profile. The seed portfolio consists of a high-quality portfolio of mini-hydro assets with a baseload generation profile and a strong operating track record in a geography with some of the highest rainfall levels in Europe. All plants in the portfolio have the potential to be hybridised. White Summit Capital will continue to expand the platform thanks to exclusive advanced bolt-on acquisitions in addition to organic development projects.
About White Summit Capital
White Summit Capital is a specialised energy-transition infrastructure investment manager. Founded in 2011, it has deployed over €2 billion in infrastructure investments with insurance companies, pension funds, sovereign wealth funds and other institutional investors. The firm has a diverse multi-disciplinary team across offices in Zug, London and Madrid. https://www.whitesummitcap.com/
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