Israel's Helios lands in Spain with 100-MW solar buy

Solar park in Spain. Author: Som Energia Cooperativa. License: Creative Commons. Attribution 2.0 Generic

June 19 (Renewables Now) - Israel-based fund manager Helios Energy Investments has finalised the acquisition of project companies owning around 100 MW of large-scale photovoltaic (PV) parks in Bonete, Spain.

The assets were bought from Cobra Concesiones SL, a subsidiary of Spanish construction engineering company ACS Actividades de Construccion y Servicios SA (BME:ACS), the buyer’s legal advisor Watson Farley & Williams (WFW) said.

Cobra won the PV capacity in Spain’s third renewable energy auction.

The transaction was closed on May 29, 2020, after the plants were built and successfully hooked to the grid.

The advising process also included negotiations over the project financing, which Helios secured with a syndicate consisting of Banco de Sabadell SA (BME:SAB), Kommunalkredit Austria AG, Credit Industriel et Commercial (CIC), Nomura International plc and Siemens Bank GmbH, the law firm added.

The acquisition of the Bonete parks represents Helios’ debut in the Spanish renewables market. Outside of Israel, the investment manager is also present in Italy, the Netherlands, Poland and the UK.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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