Octopus grabs 175MW Spanish solar portfolio

Oct 22, 2020 04:55 PM ET
  • Octopus Renewables Infrastructure Trust (ORIT) has conditionally gotten a 175MW photovoltaic solar profile under growth in southern Spain.
Octopus grabs 175MW Spanish solar portfolio
Image: Octopus

The purchase will go through when the four plants in Andalusia getting to ready to build condition, which is anticipated by January 2023.

Watson Farley & Williams (WFW) carried out the due persistance and also the preparing as well as negotiation of the share acquisition arrangement performed within the structure of the offer.

The company additionally encouraged on Spanish governing as well as tax obligation matters.

Octopus Renewables, part of Octopus Group as well as the fund supervisor for ORIT, is a professional tidy energy financial investment supervisor with a goal to increase the change to a future powered by renewable energy.

Because 2010, Octopus Renewables has invested in a diverse portfolio of properties with a capacity of over 2.6 GW and also is currently the one of the biggest sustainable asset owners in Europe as well as Australia.

WFW business partner as well as workplace head María Pilar claimed: "It was a terrific enjoyment to encourage Octopus on its very first project-level investment in Spain.

" Signing the transaction in such a brief timeframe, despite the current circumstance, is a clear testimony to the toughness of international investors' appetite for Spanish properties and our expert guidance in the Spanish renewables industry."

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