Spanish investment platform Q-Energy announced on Monday that it will invest EUR 9 billion (USD 10.1bn) in renewable energy, energy storage and distribution projects under the 2022-2025 strategic plan, and is evaluating a EUR-1-billion transaction to enable the potential entry of a new partner in its gigawatt-scale asset portfolio in Spain.
The Madrid-based renewables investor said that its strategy will focus on diversifying energy sources and technologies, and expanding Q-Energy’s global footprint.
In Spain, Q-Energy is analysing the possibility of allowing a new strategic partner to enter in its operational plants and projects under development. This transaction could include a set of 80-MW solar PV assets and a 4.5-GW portfolio of PV and wind power projects under development in various parts of Spain, Q-Energy said.
Under the plan, Q-Energy will look for opportunities to invest in a range of renewable energy technologies, such as solar, wind, hydrogen, biomass, storage and smart grids, and explore investments in power-to-X schemes.
As for the global expansion, the firm will seek to identify new markets in Europe, the US and Latin America, focusing on ones with strong renewable energy momentum and stable regulatory frameworks.
Q-Energy already has offices in Berlin and London. In Italy, Q-Energy partnered with Palladio Holding to jointly develop projects, but the firm will open an office in Milan to explore local opportunities independently, it said.
Q-Energy was launched in 2006 as a renewables-focused platform of Spanish alternative asset manager Qualitas Equity. In 2007, Q-Energy founded Fotowatio Renewable Ventures (FRV), its investment vehicle at the time and now a global independent power producer in its own right after the sale to Abdul Latif Jameel Energy in 2015.
After deploying investments through four funds over the years, Q-Energy now manages more than 1.2 GW of solar PV capacity, 242 MW of concentrated solar power (CSP) plants and 325 MW of wind farms in Spain, Germany, Poland and Italy.
(EUR 1.0 = USD 1.12)
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