Green IPP Building Energy raises €70 M

Building Energy 1 Holdings plc (Building Energy), a global, vertically integrated, renewables-focused independent power producer will receive around €70 million (US$81 million) from ZZ Capital International Ltd (ZZCI) and Zhongzhi Capital (ZZC). The investment was structured through the subscription for mandatorily convertible bonds and equity interests.

ZZCI will also be investing alongside Synergo and Three Hills Capital Partners, which already hold stakes of 30 per cent and 7 per cent, respectively in Building Energy.

As part of the transaction, the Building Energy group has been redomiciled from Italy to the UK to benefit from the depth of London’s capital markets, the breadth of expertise in renewable energy in the UK and the supportive environment for high growth companies.  

ZZCI is a global alternative investment firm headquartered in Hong Kong, with offices in Hong Kong, London, New York, and Tel Aviv. ZZCI focuses on helping owners and management of companies worldwide to grow and expand their businesses in China as well as globally. The firm focuses on five high growth sectors: Environmental, Healthcare, Industrial, Financial Services and Education/ Media & Technology.  

ZZC is a multi-asset class focused asset management company which is headquartered in Beijing. It is one of the few institutions that have access to large amount of capital from a variety of funding sources, has the capability to work with companies at their highest strategic level, help them expand through acquisitions both domestically and internationally, transform their business through moving into new sectors, and facilitate industry consolidation. It is registered with the Asset Management Association of China.