Project Finance Brief: Alternus Energy to Acquire 228 MW of Solar Projects in Spain
Summary
International renewable independent power producer (IPP) Alternus Energy agreed to a definitive agreement to acquire up to 228 MW solar projects in Spain. The projects are in mid-stage development and are anticipated to reach RTB status by Q2 and Q3 of 2023, subject to permitting and suitable grid connection conditions. The portfolio of aggregate 42 projects is owned by BlackRock Real Assets’ Global Renewable Power Fund II and held by many operating companies. Renewable energy producer Sunly secured an €11 million (~$12.01 million) bridge facility from Eiffel Investment Group managed vehicles under the Eiffel Energy Transition program to support the expansion of its PV portfolio in Poland, following the acquisition of Alseva group, a solar developer and EPC contractors in Poland. For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
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