Sympower, Europe’s leading independent grid flexibility services provider, has secured €19 million in funding from PGGM, one of Europe’s largest pension investors. This investment is an extension of Sympower’s Series B1 round, bringing the total raised to €42 million.
With over 2.7GW of flexible distributed energy assets under management across Europe, Sympower has established itself as a market leader in energy flexibility. Sympower is also a member of our Renewable Energies market group, and we have covered them in more depth in a previous interview here.
PGGM partnership fuels next phase of Sympower's expansion
Sympower currently manages over 0.5GW of battery energy storage assets in the Nordics, and has recently announced the rollout of its battery energy storage (BESS) optimisation services in Greece. This latest investment marks a pivotal step in scaling the company’s presence in BESS, expanding its acquisition pipeline, and advancing its pan-European growth.
The new capital will be used to accelerate Sympower’s rollout of BESS, support strategic mergers and acquisitions, and strengthen its position as a pan-European leader in energy flexibility. PGGM will also join Sympower’s Supervisory Board, providing institutional expertise and long-term guidance.
“This strategic investment allows us to unlock the next phase of our BESS vision and unlock new acquisition opportunities to strengthen our offering,” explained Simon Bushell, Founder and CEO of Sympower, adding:
"Having PGGM on board is a powerful vote of confidence from one of Europe’s most respected institutional investors. Their long-term, impact-driven investment approach is deeply aligned with our mission to build a more sustainable and resilient energy system.”
“PGGM is proud to partner with Sympower, a company at the forefront of the energy transition,” said Dennis van Alphen, Senior Director Private Equity at PGGM:
“Their innovative approach to energy flexibility and their strong track record of growth make them an ideal partner for us as we seek to generate long-term value for our clients while contributing to a more sustainable future.”
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