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Alpiq
Switzerland’s second-largest hydropower portfolio with a capacity of approximately 3,300 megawatts
Investment year
2019-2020
Ownership stake
33.3%
Industrial partner
Storage, run-of-river and small-scale hydropower plants¹
The investment in Alpiq, a Swiss energy services provider and electricity producer encompasses Switzerland’s second-largest hydropower portfolio, a vital element within the nation’s power generation system. This portfolio comprises diverse assets, including over 25 hydropower installations spread across various drainage basins, spanning from small-scale to substantial storage systems. Notably, the Nant de Drance pumped storage power plant, operational since 2022, contributes to the system’s flexibility and reliability.
Alpiq’s hydropower fleet collectively holds an installed capacity of approximately 3,300 megawatts, generating over 5 terawatt hours per year. Hydropower signifies an important step towards securing Switzerland’s renewable energy future and aligns with the country’s climate objectives.
¹ While this case study focuses on the Alpiq hydropower portfolio, the investment also includes other assets in Switzerland and abroad. Within Switzerland, the investment encompasses more than 25 hydropower assets and stakes in nuclear plants. Internationally, it spans across renewables and gas generation infrastructure (excluding coal).
Largest public-to-private utilities transaction in Europe within the last decade
Five terawatt hours per year
With a total installed capacity of approximately 3,300 megawatts, the hydropower plants generate more than five terawatt hours per year. This transaction stands out as one of the largest within Europe over the past decade.
Importance of the hydro power plant
Hydropower is Switzerland’s most important source of electricity, representing more than 60% of the nation’s energy production.
Energy storage
As an energy-storage technology, the hydropower plant plays a pivotal role in shaping future energy systems,as it offers much-needed flexibility within Europe’s predominantly renewable-based energy infrastructure.
Collaboration
A close collaboration with diverse industrial partners and public institutions enabled a favorable transaction. This collaboration resulted in robust governance rights within the transaction agreement, as well as a high level of transaction certainty.
Supply reliability
The successful delisting of Alpiq through this transaction strengthened its positioning as a strong and sustainable Swiss electricity producer. This also contributes to a secure electricity supply and maintains the production of hydroelectric power, which holds systematic importance.
renewable energy generation assets
Plenitude
Plenitude’s business model combines renewable energy generation assets, retail services for homes and businesses and charging points for electric vehicles into a diversified platform spanning the entire energy value chain.
2024
Renewables
Global
Offshore wind farm
Wikinger
An offshore wind farm in the Baltic Sea that produces clean, carbon-free electricity under Germany’s feed-in tariff regime, contributing to the country’s green energy ambitions.
Renewables
Germany
2022
European Energy Infrastructure
Electra
An innovative French company dedicated to revolutionizing electric vehicle charging.
System flexibility
Global
2023
European Energy Infrastructure
Fluxys
One of the largest European owners and operators of supply-critical energy transmission infrastructure, operating 28,000 km of pipelines for energy molecules.
Transmission
Global
2023
European Energy Infrastructure
Repsol Renovables
The global renewables arm of Repsol, the Spanish oil and gas giant with nearly 100 years of history in the energy industry.
Renewables
Global
2022
European Energy Infrastructure
Boralex France
Boralex France is the third-largest wind power supplier in France – and the largest private player overall – with more than 70 strategically positioned wind and solar plants.
Renewables
France
2022
European Energy Infrastructure
BayWa r.e.
Targeting 3 gigawatts of solar and wind capacity by 2028, BayWa r.e. is building a global diversified renewables platform.
Renewables
Global
2021
European Energy Infrastructure
Arkona
Part of Germany’s highly attractive feed-in tariff regime, Arkona is a fully operational 378 megawatts offshore wind park located 35 kilometers northeast of Rügen, an island in the German Baltic Sea.
Renewables
Germany
2019
European Energy Infrastructure
Sunscreen
An integrated platform of mid-sized photovoltaic assets operating under attractive regulations in some of Europe’s sunniest regions.
Renewables
Italy
2018
Swiss Energy Infrastructure
Swissgrid
As Switzerland’s national grid operator, Swissgrid oversees the operation, maintenance, modernization and expansion of 6,700 kilometers of high-voltage grid infrastructure
Transmission
Switzerland
2014