CVC DIF, the infrastructure strategy arm of global private markets manager CVC, has announced its acquisition of a 49% stake in BALANCE Erneuerbare Energien (BALANCE), a leading biogas subsidiary of VNG AG, a gas company based in Leipzig.
This strategic investment, made through the DIF Infrastructure VII (DIF VII) fund, will bolster the future growth of BALANCE and support its continued expansion in the renewable energy sector, and marks another significant transaction following DIF acquisition by CVC in 2023.
Biogas: A Key Player in the Future of Decentralized Energy
As the world shifts towards more decentralized energy systems, biogas is emerging as a crucial component of this transformation. Unlike other renewable energy sources, such as wind or solar, biogas has the distinct advantage of being weather-independent. This makes it a reliable and flexible energy source that can be stored and used to complement other forms of renewable energy, ensuring a consistent energy supply.
BALANCE currently operates 42 biogas plants across Northern and Eastern Germany, with a total installed thermal output of approximately 197 MW. These plants provide green energy to over 180,000 households each year, positioning BALANCE as one of the largest biogas operators in Germany.
The Biogas market has been drawing attention from several infrastructure investors. In 2024, the Nordic infrastructure fund Infranode completed the acquisition of a 49% stake in two biogas assets from the Danish Biogas developer and operator Renegas A/S (Renegas).
VNG CEO Ulf Heitmüller on the Acquisition
Ulf Heitmüller, CEO of VNG, expressed his optimism about the partnership, saying,
“We are delighted to welcome CVC DIF as a partner in BALANCE. Their extensive experience in supporting investments through active value creation aligns perfectly with our vision. CVC DIF shares our view on the significant potential of biogas as a clean energy source, and together, we will strengthen BALANCE’s growth and competitiveness. This partnership supports our ‘VNG 2030+’ strategy and will help expand our green gas portfolio, contributing to the long-term sustainability of renewable energy.”
CVC DIF’s Gijs Voskuyl Highlights the Strategic Opportunity
Gijs Voskuyl, Managing Partner at CVC DIF, emphasized the importance of biogas in the energy transition. He said,
“The biogas market is rapidly evolving, and we firmly believe it plays a critical role in decarbonizing the energy industry. With regulatory support in place, we are eager to contribute to this growth. Our partnership with VNG provides a professional and dynamic environment for BALANCE, positioning it to leverage market opportunities in Germany. We are confident that this investment will offer stable returns to our investors and create sustainable long-term value.”
Transaction Status
Both companies confirmed that the completion of the acquisition is subject to approval by the relevant antitrust authorities. Upon approval, this partnership will significantly enhance BALANCE’s capabilities in Germany, empowering the company to further scale its operations and contribute to the country’s renewable energy objectives.
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