Equitix to sell stake in Spanish solar portfolio Enersol to Velto Renewables

Equitix has agreed to sell its minority stake in the Enersol solar portfolio in Spain to Velto Renewables, a pan-European IPP backed by La Caisse (formerly CDPQ).

Enersol comprises a portfolio of nine operational solar photovoltaic assets located in Andalucía, southern Spain. With a combined installed capacity of 45 MWp, the assets benefit from long-term regulated revenues under Spain’s renewable energy framework.

Equitix has held its interest in the portfolio since 2018, during which time the business has undergone significant operational optimisation and value enhancement. Active asset management by Velto Renewables has contributed to improved performance.

Achal Bhuwania, Chief Investment Officer at Equitix, said: “This transaction highlights our disciplined approach to investment and active asset management, with a strong focus on value creation across the investment cycle. Since acquiring our stake in Enersol, we have worked closely with partners to optimise performance and enhance returns. As our 19th exit in the last five years, it reinforces our flexible approach to crystallise value from divestments for our long-term funds while leaving the asset well positioned for its next phase of ownership.” 

Lucas de Haro, CEO of Velto, added: “Having partnered successfully with Equitix since 2020, we are pleased to increase our ownership in Enersol. This transaction strengthens our long-term renewable platform in Spain, bringing our operating portfolio in the country to around 500 MW, and reflects our conviction in high-quality assets that can continue to create value over time.”

Completion is expected in the upcoming weeks, subject to customary conditions.