The solar facilities produce enough clean energy to power more than 115,000 households
The assets included in the transaction were previously owned by the Q-Energy III Fund. (Credit: PublicDomainPictures from Pixabay)
Global institutional investor Caisse de dépôt et placement du Québec (CDPQ) has announced the acquisition of 73 regulated photovoltaic solar assets in Spain from Q-Energy.
With the acquisition, CDPQ takes the first step in creating its new platform in Spain.
Located throughout Spain, the portfolio of solar assets to be acquired from Q-Energy has a total capacity of 216MW.
The solar facilities produce over 355,000MWh annually of clean energy, which is sufficient to supply more than 115,000 households.
CDPQ infrastructure head and executive vice–president Emmanuel Jaclot said: “This first equity infrastructure investment in Spain is a milestone in the deployment of CDPQ’s long-term European infrastructure strategy.
“With this transaction, we are laying the foundation of our renewables platform in Spain, which will allow us to progressively increase our presence in this key renewable market and achieve CDPQ’s carbon intensity reduction targets.”
Q-Energy will continue to provide maintenance for 73 assets
Upon completion of the transaction, Q-Energy will continue to offer comprehensive management of the solar assets.
The company will handle day-to-day operations, monitoring and maintenance of the 73 assets.
The portfolio of assets included in the transaction were previously owned by the Q-Energy III Fund, which launched in 2018.
The fund is now in the process of divesting, after it was fully invested.
Currently, Q-Energy manages more than 150 renewable energy plants across Spain, Italy and Germany.
The company manages more than 1.3GW in solar photovoltaics, 170MW of concentrated/ thermoelectric solar power (CSP) and 130MW of wind energy in the three countries.
In May last year, CDPQ and Lightsource BP announced a debt investment of $194m to finance a portfolio of solar assets owned and managed by Lightsource BP.