APG and ABP today announce the development of a 32MW onshore wind energy project in Oostflakkee, 30 km South-West of Rotterdam. The development will be undertaken by Kallista Energy, a specialized, independent renewable energy developer.
We talked about this project with Jan-Willem Ruisbroek, Head of Global Infrastructure Investment Strategy and Chairman of Kallista Energy, and Lee Crossingham, Portfolio Manager Infrastructure and Board Member of Kallista Energy.
What is the rationale to invest in this wind farm project?
Jan -Willem: “APG is highly committed to pursuing investments that meet the joint ambition of delivering strong, long-term investment returns for our pension fund clients whilst also contributing to the wellbeing of the society we serve. This investment represents a great example of this dual purpose – solid long-term returns and providing clean, green energy for over 35,000 Dutch households.”
Lee: “This investment represents the first direct investment for APG and ABP in the renewable energy sector in the Netherlands. We have been an active participant in the renewables sector across several regions in Europe, the Americas, and Asia, however entering the Netherlands, our home market, represents an exciting new chapter in our renewables journey.”
What is the role of Kallista Energy?
Lee: “Kallista Energy is an independent renewable energy developer based in France, which is majority owned by APG. Kallista already has a strong track-record in France, where the platform operates a wind farm portfolio of over 200MW and is developing a further 500MW in the coming years. This project represents the first step in the expansion of the Kallista platform into the Netherlands.”
This project is an onshore wind farm,which can sometimes be controversial. How do you manage those concerns?
Lee: “We are careful to closely and proactively engage with all relevant stakeholders when undertaking new renewables development, and in this case, the project was initiated by a group of local farmers and is consistent with sustainable ambitions of Goeree-Overflakkee. More generally the project stands to benefit all Dutch citizens by eliminating over 1.2m tonnes of CO2 equivalent over the project life and helping to meet our Paris Climate Accord obligations.”
Can we expect more from this type of infrastructure investment in the coming years?
Jan-Willem: “We are strong supporters of the Kallista Energy platform and see this investment as the first step in a larger growth plan for the Netherlands, France, and Germany. More generally, our pension fund clients want us to invest more in infrastructure. Thus, we are constantly looking for other possible attractive investments. We certainly expect to add more long-term and responsible investments in renewable energy infrastructure in the coming years.”