Green Arrow Capital gets 508 MW of solar projects in Spain

• Italian different investment manager Green Arrow Capital SGR (GAC) said on Tuesday that it is obtaining some 508 MW well worth of ready-to-build solar PV projects in Spain with a new fund.

The Green Arrow Infrastructure of the Future (GAIF) fund signed a structure agreement with Madrid-based renewables firm Progressum Energy Developments (PED) to get the portfolio valued at over EUR 400 million (USD 451.9 m), GAC said.

"This acquisition in Spain is the initial significant worldwide purchase targeted at settling GAIF's placing abroad. This financial investment will offer the fund with a considerable first presence in the Spanish market," said Daniele Camponeschi, Green Arrow Capital's founder as well as chief financial investment officer.

The GAIF infrastructure fund was launched in very early 2021. Adhering to purchases finished last year and the most up to date transaction, the fund currently holds a portfolio including solar PV, wind and hydroelectric plants in operation, incomplete as well as ready-to-build phases amounting to over 800 MW. This portfolio comes on top of projects for the biomethane production, storage, electrical car charging infrastructure as well as 5G towers, GAC added.