Infranity has acquired a portfolio of 13 fully operational plants in Spain and Portugal with a total capacity of 58 MW from a fund managed by Foresight. An initial agreement has been reached to extend the scope to a further 6 fully operational plants in Spain to increase the total attributable capacity to around 78MW.
The portfolio has an attractive profile, with a good balance between contracted and commercial revenues, allowing it to benefit from current market dynamics while hedging its long-term exposure.
This investment brings attractive diversification to Infranity's existing equity investment portfolio. It reinforces the company's commitment to accelerate the development of responsible and sustainable infrastructure projects. This project will be developed with particular attention to social and environmental impact.
The transaction represents Infranity's first equity investment in Iberia. It underscores the investment manager's belief in the solid fundamentals and resilience of the Iberian solar market in the current social and financial environment, further contributing to local and European energy transition goals.
Alban de La Selle, Managing Partner of Infranity, said: "We are proud to support the growth of a renewable energy platform with an attractive risk-return profile for our investors. This transaction reinforces Infranity's commitment to invest in sustainable energy infrastructure that supports the energy transition. This transaction also comes at a time when Infranity has taken significant steps to grow its equities business with a series of new acquisitions.
Carlos Rey Micolau, Managing Director and Head of Iberia at Foresight, said: "We are delighted to announce our first divestment in Iberia. We have been able to deliver an attractive return for our investors and it demonstrates Foresight's proposition in the energy and infrastructure markets.