The Spanish Government has outlined plans for the renewable capacity to increase by a minimum of 3GW per year and by 2050, the energy consumed will be 100% from renewable energy sources. Due to the vast solar potential the country possesses, several of the leading investors have established a foothold in the Spanish solar market to accelerate the green energy transition. In this article, we will discuss 3 of the largest green infrastructure investors in Spain.
1) Exus Management Partners – Wind and solar investor based in Madrid
Exus is an independent investment and asset management group which specializes in green energy infrastructure. The group has been involved in projects located across 10 countries with a combined installed capacity of over 10GW. Exus mainly focus on wind, solar, and hydro projects. The Madrid-based group has over 20 years of experience in renewable energy and hit its 10GW milestone in September 2022. In November 2022, the group announced their new Exus Partners Energy Fund 1 which raised €50m. The group has set a target for 70% of the fund to be used for the development of projects in the Iberian market and the remainder will be used to fund projects across Europe.
2) Azora – Wind investor based in Madrid
Azora is a relatively new developer of green infrastructure assets, the group developed its first renewables project in 2018. Since then, Azora has been involved in the development of over 1GW of solar and wind projects. However, Azora’s history in the sector dates back to the early 2000s when the group supported wind and solar projects developed by CESA and Canepa Green Energy. Not only have the Spanish group been investing in green infrastructure, they have also partnered with market leaders such as Cesa and Gamesa to develop their in-house technical development and operations team. In July 2021, Azora partnered with Eni and sold a renewable portfolio with an installed capacity of 1.2GW. The deal represents the first of their partnership, the duo will also work together to develop five Spanish solar projects by 2024.
3) Green Tie Capital – Solar and wind investor based in Sevilla
Green Tie Capital is an investment and asset management group which pride itself in its experience and know-how when it comes to green infrastructure projects. The group can offer its expertise throughout all stages of project development and green infrastructure management. In December 2022, Shell acquired 10 of Green Tie’s Spanish solar projects. The 2GW portfolio is part of a deal between the two which will also see 12 Green Tie employees join Shell to support the integration.
Image Source: Chelsea via Unsplash (14.02.2023)