EQT Active Core Infrastructure Acquires Majority Stake in Germany’s Tion Renewables

Representational image. Credit: Canva

Boè TopCo, a holding company owned by EQT Active Core Infrastructure, has acquired 71.7% of Tion Renewables, a clean energy producer, for a base equity value of €150m ($170m), or approximately €31.61 per share.


Hopper BidCo, a subsidiary of Boè TopCo, has also entered into a sale and purchase agreement for an additional 10.4% of Tion Renewables.

Pelion Green Future Alpha, the seller, will reinvest and enter into commercial undertakings as part of the transaction to indirectly remain a minority shareholder in Tion Renewables.


The company has a diverse portfolio of utility-scale solar, wind, and battery storage assets with a capacity of 167 MW across the EU and the UK, with additional solar, wind, and battery storage projects in the pipeline.


The acquisition supports Tion Renewables’ growth potential and ambition to become a leading platform for investments in energy transition projects. EQT Active Core Infrastructure will support the company’s transformation by leveraging EQT’s experience in the renewable energy space and its network of over 600 industrial advisors.

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The acquisition aligns with global regulators’ ambitious renewable targets and supports the energy transition and decarbonisation targets. The deal is EQT Active Core Infrastructure’s second investment and offers a distinct risk-return proposition with stable cash yield generation and low volatility.

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