Investment company NPM Capital is acquiring a majority stake in Rooftop Energy (RTE). RTE develops and operates solar power plants in the Netherlands, mainly on the rooftops of commercial buildings. Established in 2011, the Rotterdam-based company has a track record of approximately 175 projects. RTE also develops ground-based projects such as the Bavelse Berg development, a former landfill, with approximately 100,000 solar panels being placed this year.
RTE’s founders, Leendert Florusse and Raymond Steenvoorden, will keep a share in the company and will remain involved in its activities. The Supervisory Board will be extended with the membership of Stephan van Dongen, investment director at NPM Capital, and Jeroen de Haas, the former CEO of Eneco. In addition to his supervisory role, Mr De Haas will actively advise and support the company in its pursuit of expansion. Since the establishment in 2011, RTE has grown into one of the largest developers and operators of solar power plants in the Netherlands. At the end of 2019, RTE expects to have realised a total of 200 projects with a combined capacity of over 100 MWp (Megawatt peak), enough to power 30,000 households. The company currently has 25 employees, a number that is expected to increase significantly in the next few years.
Leendert Florusse, CEO and co-founder of RTE: “Our company is midway between the rapid-growth pioneering stage and a position as an established player in the sustainable energy market. In the future we expect to see even stronger growth. We have a large number of projects in the pipeline, to be realised in the coming years. Further to that we have an acquisition agenda aimed at bolting on small and larger parties in order to speed up the process of upscaling our position in large solar power installations. In the longer term, in addition to growth in solar energy, we aim to strengthen our role in supporting our customers’ ambition to achieve 100% sustainability. In NPM Capital we have found the partner with the financial strength and the flexible (and generally long-term) investment horizon that can support our growth ambition. We are delighted to work together with them towards the realisation of the energy company of the future.”
RTE distinguishes itself in the sustainable energy market by offering clients a full-service approach, from design and financing through to planning, installation and operations. This leaves clients free to focus on their core activities, in the knowledge that they are at the same time making a significant contribution to a more sustainable society.
Stephan van Dongen, investment director at NPM Capital, said in his statement: “In the next few decades we have to make the transition to a 100% sustainable energy system. We are pleased to have found this unique investment opportunity as we firmly believe that solar energy will play an important part in the energy mix of the future. We are impressed with the way the RTE team has been able to lay the foundation for further investments in the energy transition. Furthermore, we are delighted that Jeroen de Haas will also be actively involved with the company in an advisory role. We know each other well, and – even before this acquisition – have been jointly operating in the identification of suitable opportunities for investment in the world of sustainable energy.”
Read the Rooftop Energy profile