UK based impact investment firm Quercus Real Assets Limited is looking for a strategic investor for the construction and operation of a 800 MW Spanish PV portfolio it has acquired and developed since 2020.
Quercus has hired independent investment bank Greenhill to manage the tender for what it calls one of the largest portfolios in the European renewables market, at present.
“Bidders are likely to be among the major industrial and financial investors in the sectors, who are often the most interested parties in large portfolios, particularly in the Spanish market, one of the most active solar markets in Europe,” stated Quercus.
In March 2021, Quercus said it has advised a Luxembourg affiliate on accumulating a sizeable portfolio of PV development projects in Spain with around 800 MW capacity. Initial assets will be ready-to-build at the end of Q3 / 2021 and will come online around 12 months later.
Further details will be available with Quercus Real Assets through its website .
Spain is one of the star solar markets of Europe currently, thanks to friendly government policies and a vision to install 60 GW renewable energy capacity by 2030. Although the large solar portfolio in the country is facing grid-connection issues, the generally solar-friendly environment is encouraging investments by some of the major industrial players in the country as well as seeing an uptick in several large scale project acquisitions ( see Lightsource BP Laps Up 703 MW Solar Capacity In Spain ).