Velto Renewables has agreed to acquire a portfolio of 260 megawatts (MW) of regulated solar assets in Spain from Bankinter Investment and Plenium Partners, the companies said on Tuesday.
The transaction includes 53 operational assets with a combined enterprise value estimated at €1.1 billion. The portfolio generates over 360 gigawatt-hours (GWh) of electricity annually, supplying power to nearly 100,000 households and helping avoid approximately 36,400 tonnes of carbon dioxide emissions each year.
“This acquisition strengthens Velto’s position in the Iberian market and creates opportunities for synergies with our existing portfolio,” said Lucas de Haro, Chief Executive of Velto Renewables.
The deal comprises 163MW held through Helia II FCR, a fund launched by Bankinter and Plenium in 2018, along with an additional 97MW contributed directly by Plenium.
Bankinter and Plenium said the sale aligns with their strategy to consolidate renewable assets, enhance operational performance, and optimise capital structures. “The transaction is part of our approach to asset rotation and value creation,” the companies said in a joint statement.
The acquisition is subject to regulatory approvals and customary closing conditions.
Advisors to Bankinter and Plenium included Gómez-Acebo & Pombo, Enertis, EY, and KPMG. Velto was advised by ING, Watson Farley & Williams, Vector Renewables, and EY.
Velto, backed by Canadian investor CDPQ (Caisse de dépôt et placement du Québec), currently owns over 280MW of solar and wind capacity in Spain and France, and holds a 25% stake in a 630MW offshore wind farm in the United Kingdom.
