SPAIN - Platina acquires Arico solar farm

Platina secured EUR 70m financing for the acquisition, provided by NordLB and Banco Santander.

Arico will be managed by Anemoi Renovables SL, a Spanish renewable energy development company funded by Platina's Mistral Energy II fund in a 50:50 joint ownership structure with Platina's European Renewable Energy Fund (EREF).

This is the second investment from Platina's EREF fund following the financing of the Orites wind farm in Cyprus. The acquisition means Platina has now invested in Spanish solar projects with a total capacity of 31MW, making it one of the largest private equity players in the local market.

Platina has now financed over 200MW wind and solar projects across Europe, out of a total development portfolio of over 1,000MW. It intends to finance a further 100MW of renewable energy projects from its development portfolio during the course of 2009/10.

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• Topics
• Expansion
• Southern Europe