Newbie solar platform targets 1.9 GW Italy-Spain pipe

• Alantra and Solarig have established a EUR1.7 bn financial investment vehicle with financing from Reichmuth and also Amundi

European partners Alantra and Solarig have launched a 1900MW solar platform composed of more than 50 projects in Italy and Spain.

Key investors in the new platform are Swiss framework asset supervisor Reichmuth as well as French asset supervisor Amundi Energy Transition.

2 thirds of the portfolio lies in Italy and also the continuing to be 3rd in Spain.

The plants will progressively reach Ready-to-Build (RTB) status within the following 18 months as well as ultimately be fully operational by the end of 2025, claimed the partners.

A financial investment vehicle has actually been established to gradually obtain the portfolio's plants for an overall worth of EUR1.7 bn, of which EUR700m will be equity and also the staying EUR1bn debt.

The vehicle will certainly be named N-Sun Energy as well as has been developed as a financial investment platform that is environmentally lasting and also compliant with the ESG criteria laid out in the EU Taxonomy Regulation.

Alantra is raising the resources for N-Sun Energy and also has partnered with Reichmuth as well as Amundi as important calculated co-investors, who have actually committed up to EUR265m.

The financial investment vehicle will progressively get the plants as soon as they get to the RTB status and also has actually finished the acquisition of the first 8 plants totalling 330MW.

Alantra Solar, the partnership between Alantra and Solarig, integrated in Alantra Asset Management, will certainly supply asset management services to the investment vehicle and also ensure its funding capacity while implementing a circulation strategy that balances power acquisition agreements (PPAs) as well as market sales.

Solarig will oversee the advancement of the different plants to ensure they reach operational status and thereafter will bring its capabilities as the an O&M professional.

Solarig has worldwide experience as well as "solid regional and implementation capabilities with a deep presence in Italy as well as Spain as well as 15 other nations".

Once finished, the portfolio will generate more than EUR180m in revenues a year.

"Renewable energy is driving strong demand from financiers across the globe, who are seeking experienced partners that can assist their contribution to transforming our energy models.

"The partnership with an industrial partner like Solarig, backed by capitalists of the calibre of Reichmuth as well as Amundi, offers a solid response to this requirement.

"We aim to reproduce this successful model in future portfolios," said Jacobo Llanza, CEO of Alantra Asset Management.

"Solarig is effectively making success of its Strategic Plan headed to become a multinational leader in the development of huge pipes of projects with a taken business model safeguarded through our different business lines.

"This partnership is a step forward towards the accomplishment of the enthusiastic objectives that the company has laid out," claimed Jose Miguel Moraga, Chief Executive Officer of Solarig.