In October 2023, Pioneer acquired a majority stake in PerPetum Europe N.V., a leading Belgium-based company that develops, constructs, owns and operates energy decarbonisation projects for Commercial and Industrial customers.

Founded in 2007, the Company provides behind-the-meter electricity generation solutions for its customers. PerPetum has installed over 500MW of PV capacity since inception and will have over 200MW operational and owned on balance sheet by the end of 2024, operating under tailor-made corporate power purchase agreements. The Company is increasingly focused on multi-technology solutions, including onshore wind, battery storage and EV charging infrastructure.

PerPetum’s portfolio includes some of Europe’s largest behind-the-meter projects and Pioneer will provide growth capital to expand PerPetum’s existing footprint in Belgium and grow into other European markets such as France.