Alantra and Solarig, who signed a long-term partnership by the end of 2021, have announced the launch of a 1.9 GW vehicle. The solar investment platform is supported by Swiss infrastructure asset manager Reichmuth and French asset manager Amundi Energy Transition as key investors.
The project consists of the following:
- A Southern European portfolio with a capacity of 1.9 GW. The plants will progressively reach Ready-to-Build (RTB) status within the next 18 months and ultimately be fully operative by the end of 2025.
- An investment vehicle to invest €1.7bn into the solar energy plants. The investment vehicle will gradually acquire the plants as soon as they reach the RTB status and has completed the acquisition of the first eight plants totalling 330 MW.
- Alantra Solar to provide asset management services to the investment vehicle. Alantra Solar, the partnership between Alantra and Solarig, integrated in Alantra Asset Management, will deliver asset management services to the investment vehicle and ensure its financing capacity while implementing a distribution strategy that balances power purchase agreements (PPAs) and market sales.
- Solarig to deploy its integrated services and global experience in the renewable arena. Solarig will oversee the development of the different plants to ensure they reach operational status and thereafter will bring its capabilities as the third largest O&M contractor worldwide to the projects. For that purpose, Solarig has a vast international experience and strong local and execution capabilities with a deep presence in Italy and Spain and 15 other countries.
Once completed, the portfolio will generate c. 2.7 GWh per year, the equivalent of the annual consumption of over 800,000 households, and will generate more than €180m in revenues p.a.
“Renewable energy is driving strong demand from investors across the globe, who are looking for experienced partners who can guide their contribution to transforming our energy models. The partnership with an industrial partner like Solarig, backed by investors of the calibre of Reichmuth and Amundi, offers a strong response to this need. We aim to replicate this successful model in future portfolios,” said Jacobo Llanza, CEO of Alantra Asset Management.
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