AtlasInvest is backing the new renewables platform Aukera, which plans to deliver 2.7 GW of new projects across Europe by the end of 2022, the Belgium-based energy investor with roots in the oil refining sector. Aukera will focus initially on the UK, Italy, Germany, Romania, and Poland, where it has secured over 1 GW onshore wind and solar projects. Aukera was launched by a team of renewable energy veterans who have already built several successful renewable ventures with the backing of AtlasInvest, the Belgium-based, family-owned investment firm with stakes in both renewable companies such as ForMotion, as well as conventional energy such as Swiss and German refineries, Dutch gas, and oil company ONE-Dyas and Carlyle’s energy fund CIEP.
Aukera is targeting long-term growth in the energy transition area and sees the rise in project costs from soaring commodity prices and supply chain disruptions as temporary, likewise the current spike in power prices. Aukera is looking at projects in all stages of development, estimating an average one to three years lead time for projects from ready-to-build status to commissioning. The pan-European developer has local teams in the UK, Italy, Poland, Romania, Germany, and Belgium and highlighted a new wind project in Italy with up to 100 MW capacity as an initial launch project that still benefits from feed-in tariffs. Up to 80% of Aukera’s project pipeline could be subsidy-free, potentially benefitting from Guarantees of Origin (GOs). More than doubling in value this year amid a faster policy shift towards renewables in Europe, while record fuel and CO2 prices further boosted the economic viability of projects.