Grupo T-Solar a portfolio company of I Squared Capital, has signed agreements to acquire three operating photovoltaic solar plants in Spain with a combined installed capacity of 5.6 megawatts from multiple sellers.
The transaction increases the company’s global portfolio to 392 megawatts of installed capacity.
Located in Badajoz, Seville and Toledo, the plants use tracker technology and can generate over 11 gigawatt-hours of clean energy per year. Combined with its recent transaction for 100 megawatts of concentrated solar power plants, T-Solar holds a leading position in Spanish solar generation and reaches global portfolio of 292 megawatts of photovoltaic solar power plants.
In the last twelve months, Grupo T-Solar has increased its portfolio by 37 percent, refinanced a 34-megawatt portfolio in Spain with a €118.4 million project bond and diversified its generation base with a different solar technology. With these additions, T-Solar is projected to generate approximately 641 gigawatt-hours of clean electricity per year—and displace over 155,370 metric tons of CO2 emissions.
“Spain is our natural market and these acquisitions, together with our development projects, continue our investment strategy to expand our portfolio of clean power generation across South Europe,” said Marta Martínez Queimadelos, Chief Executive Officer of Grupo T-Solar.
Grupo T-Solar was advised by Ernst & Young and Deloitte (financial, M&A and tax), Vector 4 (technical) and Watson Farley & Williams (legal) in these transactions.