Purmerend, Netherlands, one of the project sites of Yeager Energy
Wedoany.com Report-Feb 6, Dutch geothermal company Yeager Energy (Yeager) has announced that it has secured a commitment of more than EUR 100 million from infrastructure investment firm Pioneer Point Partners LLP (Pioneer) and it existing shareholders to grow its geothermal energy and infrastructure business.
This investment will go towards the financing of two significant acquisition for Yeager, including a majority interest in Dutch geothermal company Aardwarmte Vogalaer. Around two years ago, the company had announced progress towards building Vogalaer 2, their second geothermal heat project.
These acquisitions significantly increase Yeager’s operational asset base and establish a strong foundation for further growth, in addition to the four licenses Yeager already holds in the Netherlands. The company aims to establish a presence as the leading full-cycle geothermal operator in the Netherlands.
Yeager’s strategy is to develop, own and operate geothermal energy projects and associated infrastructure to benefit the greenhouse horticulture, residential and industrial sectors. Yeager aims to provide reliable, cost-competitive, and sustainable heat in a safe and responsible manner.
With the investment, Pioneer will become a majority shareholder, supporting Yeager’s development alongside Kerogen Capital, an independent fund manager focused on international energy and Yeager’s first institutional investor. The investment by Pioneer will allow Yeager to expand its portfolio and make a significant contribution to the European energy transition.
Pioneer is an independent, sustainable infrastructure investment firm with a focus on the energy transition and environment sectors across Europe. Pioneer’s sustainable objectives are to contribute to climate change mitigation and/or transition to a circular economy. Pioneer has over €1.7 billion of equity committed across Europe and its latest fund is classified as an Article 9 (green) fund under the EU Sustainable Finance Disclosure Regulation (SFDR).
