FP Lux Group (“FP Lux”) is adding a photovoltaic project in Spain to the portfolio of its renewable energy fund RE Infrastructure Opportunities. The solar park with a capacity of around 15 MWp is located in the municipality of Aldeamayor de San Martin (Valladolid) in the Castilla y León region. The internationally active asset manager re:cap global investors ag, based in Zug (Switzerland), accompanied the transaction for FP Lux.
Thomas Seibel, Managing Director of re:cap comments on the acquisition: “We are delighted with our second investment for the RE Infrastructure Opportunities fund in Spain. Following a large expansion in recent years, there are now attractive investment opportunities on the secondary market. The acquired solar park in Spain is a good example of this. The project fits very well with our strategy of promoting renewable energies and creating sustainable investment opportunities for institutional investors.”
Green electricity for 6,400 households
The park in Valladolid already is operating since December 2020 and has a short-term power purchase agreement (PPA) with attractive conditions. In total, 6,400 households can be supplied with renewable energy, saving around 14,200 tonnes of CO2 per year. FP Lux is acquiring the project from the Renewable Energy Infrastructure Fund II (REIF II), which built and operates the park and is advised by Goodyields Capital (“Goodyields”). Christian Auer, Partner and Head of Investments at Goodyields, says: “The sale of the solar park underlines our successful strategy of generating added value with the help of targeted market risks and optimisation of the construction and initial operating phases.”
Jochen Magerfleisch, Managing Partner of Frankfurt-based consultancy Capcora, which acted as M&A advisor to Goodyields on the project, adds: “The transaction of the solar park in Spain was an exciting challenge for us as M&A advisors. We are proud to have been able to contribute to this successful closing and look forward to continuing our partnership with Goodyields, REIF II as well as re:cap and FP Lux.”
Portfolio with total capacity of 400 MWp from renewable sources
With the acquisition of the solar park, re:cap expands the RE Infrastructure Opportunities fund’s existing portfolio to 16 projects in 30 locations in seven countries. In total, the plants reach a total capacity of over 400 MWp. The fund was designed specifically for institutional investors and successfully completed its final closing at the end of 2022 with a subscription volume of 290 million euros. With the FP Lux Energy Transition Fund, re:cap is already preparing a successor fund. A first closing is planned for late summer 2023.