Equitix acquires Spanish hybridisation portfolio

Equitix announces the acquisition of a portfolio of two hybridized renewable energy projects in Spain.

The portfolio contains; two operational wind farms, one located in Castilla-y-Leon and one located in Castilla-la-Mancha, both coupled with co-located hybrid solar PV developments; and a battery storage development which has received a grant from the Spanish government.

The new solar PV and battery storage assets will be built on the same site as the existing wind farms to maximise grid capacity usage and to take advantage of the complementarity energy generation profiles of the different renewable energy sources (e.g. wind and solar PV).

Renewable energy sits at the core of Spain’s energy strategy which aims to increase renewable power capacity to 74% by 2030. The acquired projects will add 226 MW of additional renewable energy capacity to the grid and avoid 92,000 tons per year of carbon dioxide emissions, increasing Spain’s renewable energy supply and helping it meet both domestic and European sustainability goals.

Equitix has been active in Europe for over a decade, with a presence in Spain since 2018 where it owns, builds, and manages key infrastructure projects such as Telecom Castilla La Mancha, Barcelona Metro Line 9, the Llobregat Courts of Justice, a portfolio of smart meters as well as a sizeable renewables portfolio.

Achal Bhuwania, CIO at Equitix said: “This acquisition is a clear demonstration of our commitment to supporting the green transition and further evidence of our ability to deliver our European core fund strategy being ahead of the market by investing in one of the few multi-technologies hybridized projects in Europe.Our experience as a major investor in renewable energy and energy storage, complemented by our dedicated team in Spain was pivotal to our success in originating and completing this deal.”