EQT and GIC acquire majority stake in UK energy firm Calisen

The companies will buy stakes from a BlackRock-led consortium.

EQT and GIC have entered into an agreement to jointly acquire a majority stake in British energy firm Calisen from BlackRock,  Goldman Sachs Alternatives, and Mubadala Investment Company, with Equitix as a minority investor.

Calisen is a provider of smart meters, electric vehicle charging, solar and battery, heat pump installation, meter reading, and maintenance and ancillary services for sustainable energy. It is the largest provider in the UK, operating under long-term contracts.

EQT and GIC will support the continued rollout of Calisen’s energy-transition-related assets, including smart meters, heat pumps, and renewable energy systems, in the UK and beyond. It will also explore expanding into adjacent sectors, such as smart water metering.

“Smart meters have a crucial role to play in the energy transition. Whilst they are installed at the consumer’s home, they create value across the supply chain. Consumers can track their consumption and potentially lower their bills through access to different tariffs, while suppliers and grid operators can save costs,” George Kay, head of Infrastructure at GIC Europe said.