Green Arrow Capital buys 508 MW of solar projects in Spain

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

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

“This acquisition in Spain is the first major international transaction aimed at consolidating GAIF's positioning abroad. This investment will provide the fund with a significant initial presence in the Spanish market,” said Daniele Camponeschi, Green Arrow Capital’s founder and chief investment officer.

The GAIF infrastructure fund was launched in early 2021. Following acquisitions completed last year and the latest transaction, the fund now holds a portfolio consisting of solar PV, wind and hydroelectric plants in operation, under construction and ready-to-build stages totalling over 800 MW. This portfolio comes on top of projects for the biomethane production, storage, electric vehicle charging infrastructure and 5G towers, GAC added.

(EUR 1.0 = USD 1.13)

Choose your newsletter by Renewables Now. Join for free!