Velto Renewables to acquire Spanish solar projects
Published by Jessica Casey,
Editor
Energy Global,
Velto Renewables, backed by La Caisse (formerly CDPQ), has announced that it will acquire a 163 MW portfolio of regulated solar projects in Spain from Helia II FCR, an investment vehicle in renewable assets launched in 2018 by Bankinter Investment SGEIC together with its partner Plenium Partners. In addition, Plenium Partners has added its own 97 MW solar portfolio to the broader transaction with Velto.
The combined portfolios include 53 operational assets across various regions, with a total installed capacity of approximately 260 MW. The enterprise value of the transaction is estimated at approximately €1.1 billion.
The projects generate more than 360 GWh of clean energy annually, avoiding the emission of 36 400 t of CO2 and producing enough electricity to power nearly 100 000 households, equivalent to the residential consumption of cities such as Pamplona or Santander.
“This acquisition reinforces Velto’s objective of expanding its presence in the Iberian Peninsula – covering more than 80% of the national territory – while further establishing its position as a leading renewable energy platform in Europe. In addition, the proximity of the new plants to Velto’s existing projects creates opportunities for operational synergies and enhanced efficiency,” said Lucas de Haro, CEO of Velto Renewables.
The deal feeds into the strategy of Plenium Partners and Bankinter Investment to generate value by consolidating assets during the past few years , creating operation and maintenance efficiencies, and optimising their financial structure.
The transaction remains subject to the necessary regulatory approvals and the customary closing conditions for a transaction of this nature.
The main advisors to Bankinter and Plenium Partners were Gómez Acebo Pombo (legal), Enertis (technical), EY (tax), and KPMG (finance); whereas Velto Renewables counted on ING EMEA Energy Transition (financial advisors), Watson Farley & Williams (legal), Vector Renewables (technical), and EY (finance and tax).
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Read the article online at: https://www.energyglobal.com/solar/19092025/velto-renewables-to-acquire-spanish-solar-projects/
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