invest in Alantra's 1.7 bln euro solar platform
11/01/2023 21:00
By Andres Gonzalez
LONDON, Jan 11 (Reuters) - Asset managers Amundi
AMUN.PA and Reichmuth will co-invest up to 265 million euros
in a new vehicle by Spain's Alantra, which aims to raise a total
of 1.7 billion euros to invest in solar photovoltaic farms, the
three companies said in a statement.
The platform, in which financial services firm Alantra will
partner with renewable developer Solarig, will target 50 plants
in Italy and Spain with a capacity 1.9 gigawatts and be called
N-Sun Energy.
Money managers are buying into businesses that are putting
in place building blocks for a global shift away from greenhouse
gases, a pivot that the International Energy Agency calculates
will cost $2 trillion a year by 2030.
N-Sun aims to raise 700 million euros ($752.36 million) in
equity and 1 billion in debt. Amundi and Reichmuth will
contribute to the equity portion, Alantra's spokesperson said.
The solar farms are in different stages of development and
will be fully operative by the end of 2025, the companies said.
Once completed, the portfolio will generate the equivalent
of the annual consumption of more than 800,000 households and
more than 180 million euros in revenues.
($1 = 0.9304 euros)
(Reporting by Andres Gonzalez, editing by Kirsten Donovan)
((andres.gonzalez@thomsonreuters.com; 0034 647 69 49 89;
Reuters Messaging:
andres.gonzalez.thomsonreuters.com@reuters.net))