UK based investment manager Infrared Capital Partners Ltd. has signed a sale and purchase agreement with Progressum Energy Developments to acquire the »Giralda« 1.5 GW subsidy-free, solar photovoltaic portfolio in Spain. The portfolio is being developed by Progressum, part of the Bester Group, and comprises a number of utility-scale plants located in the regions of Andalusia and Castile La Mancha in Southern Spain.
According to Progressum’s CEO, Marco Antonio Macías, Infrared and Progressum »are long term partners« and have a track record of collaborating to deliver solar parks in Mexico. »We look forward to developing and building the Giralda portfolio which, once operational, will make an important contribution to the provision of clean and affordable energy in Spain.«
This is the seventh investment of Infrared Infrastructure Fund V – a 12-year term OECD focused development infrastructure fund with $1.2 billion of committed capital and a mandate to invest in three main areas: transportation, economic and social infrastructure, renewable and sustainable energy generation and energy supporting infrastructure.
Progressum is an international company dedicated to the development of renewable energy projects. The company was set up in 2012 and is present in various markets including Mexico, Spain and UK. The company has a pipeline of more than 3,000 MW ready-to-build PV projects in Mexico and Spain.