Platina looks to solar

Renewable energy-focused private equity firm, Platina Partners, has taken over production of three Spanish solar projects.

The London and Paris-based house and its Spanish investee company Anemoi Renovables have invested €134m in the project. Financing for the projects was arranged by UniCredit.

The latest Spanish investment will see the private equity firm oversee energy production operated by Anemoi at the Cantillana (Andalucia), El Coronil (Andalucia) and Ocaña (Toledo) solar plants.

All three projects were financed through the Platina’s Mistral Energy II renewables fund. Platina closed financing at the end of October on €44.6m for Cantillana and El Coronil on €83.7m. Platina will manage the finance, construction and production of the plants in conjunction with Anemoi.

Partner at Platina, Alexandre Labouret, said: “Our first attempt at investing on solar energy in Spain has been a real success and we hope to replicate this positive experience across Europe.”

The three power plants have a peak capacity of 19.7 megawatts, which will produce 30 giggawatts per hour annually which is enough energy to power approximately 8,000 households. All three, were connected to Spain’s national electricity grid on time.

Platina specialises in investments in management buyouts, management buy-ins, and turnarounds. The firm seeks to invest in renewable energy, predominantly based in the United Kingdom and France.