Spanish renewable investment asset manager, Everwood Capital has launched a fourth fund for investing in Spanish solar PV plants.
The company told pv magazine it has already raised €60 million; however, it plans to raise an additional €240 million in the next 12 months.
This solar fund is different from the previous three it launched over the past few years, in that Everwood will not buy already operational plants, but will rather focus on the construction of subsidy-free PV parks. It has been calculated that up to 900 MW of “grid-parity” PV projects could be built through the fund.
The first Everwood fund, announced in January 2016, managed to raise €15 million, while the second, in December of the same year, attracted €30 million. A third fund, launched in June 2017, added another €110 million.
Andbank is in charge of marketing the new fund, as it did with the previous three.
According to Spanish solar association, UNEF, Spain had around 24 GW of large-scale PV projects under review in mid-March. Although the first unsubsidized projects are expected to come online in early 2019, the development of big solar plants keeps moving forward, thanks to an increasing number of approved projects, and PPAs secured by developers and investors.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.