Eren will participate in a fundraising round to become a minority shareholder of Tigi and boost its growth. Up to 40 million euros will be made available for equity financing of projects providing capacity to finance projects valued at 100 million euros.
As the energy market transitions from natural gas to renewable energy, the heat sector has become a focal point, representing a large share of global energy demand. Recent developments, particularly in the wake of the war in Ukraine, have triggered an increased drive for transition away from fossil fuels.
Tigi has recently completed the acquisition of Austrian-based Solid, a leader in large-scale solar thermal heating systems. Tigi and Solid installed over 250 systems in over 30 countries and cater to a variety of industries and geographies. Finalising the agreement with Eren, a pioneer of renewable energies in Europe, creates a combined global partnership that spans technology leadership, global execution, and strong financial capacity.
“We are pleased to be partnering with Tigi to jointly form a first-of-its-kind renewable heat project platform” said Yonatan Shek, Managing Director of Eren Groupe. “We believe that large-scale renewable thermal energy presents a considerable global opportunity that was previously underserved but has recently gained momentum. I believe that by joining all three companies’ expertise, technology, and know-how, we set the premise for the next important step of our journey to facilitate the energy transition and a route for further decarbonisation.”
For additional information:
