Elia Group, a Belgian electricity system operator, has raised €2.2 billion. This funding will help strengthen its infrastructure, improve grid reliability, and accelerate its clean energy transition. The investment supports Elia Group’s growth from 2025 to 2028, marking a key step in securing Europe’s energy future.
Strengthening Infrastructure with Strategic Investment
Elia Group’s strategy includes raising €850 million through a private placement of new shares. The shares will be offered to select investors. Key contributors to this round include ATLAS Infrastructure, The Future Fund, BlackRock, CPP Investments, and Publi-T/NextGrid Holding, the company’s principal shareholder.
The private investment round will fuel Elia Group’s continued growth. ATLAS Infrastructure and The Future Fund have pledged €234.6 million. BlackRock and CPP Investments are each contributing €117.3 million. Publi-T/NextGrid will invest €380.7 million, maintaining its 44.79% stake. This significant capital infusion will enable Elia Group to execute its strategic plans through 2028.
Clean Energy and Strategic Growth
Elia Group CEO Bernard Gustin emphasized how this deal will secure the company’s future. He stated, “The proceeds raised via the PIPE, along with the upcoming rights issue, will provide the Group with a significant capital infusion.”
The €2.2 billion capital strategy includes the private placement and an upcoming rights issue. Elia Group expects the rights issue to raise approximately €1.35 billion. They anticipate closing this process before the month’s end, securing additional funding for the company’s plans. Once completed, Elia Group will proceed with the rights issue, contingent upon meeting specific conditions.
ATLAS, BlackRock, and CPP Investments have agreed to exercise subscription rights tied to their PIPE shares. Publi-T/NextGrid will also subscribe to all rights associated with both existing and newly issued shares.
Capital Strategy and Future Outlook
Elia Group’s PIPE initiative is a key part of its strategy. The group aims to raise €2.2 billion in equity by 2025. Irrevocable commitments already account for over 55% of the proposed rights issue. The remaining portion will likely be underwritten by a consortium of banks. This funding will support Elia Group’s clean energy goals and enhance Europe’s energy infrastructure.
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