Impressive Spanish solar investment: IST’s 91 MW Power Play

Reinforcing the strong institutional investor interest in Spain’s renewable energy sector, Swiss pension fund investor IST has finalized a landmark acquisition of a 91-megawatt (MW) solar portfolio from Bestinver. The transaction, valued at more than €330 million, significantly expands IST’s clean energy presence on the Iberian Peninsula and marks a major vote of confidence in the market.

The deal was executed through IST3 Infrastruktur Global, with its Spanish subsidiary Terralys Renovables assuming ownership of the assets. The seller, Bestinver Infra FCR, is the renewable energy investment arm of Acciona’s asset management division, making this a notable transfer of mature clean energy infrastructure.

Impressive Spanish solar investment: IST’s 91 MW Power Play in Portfolio Acquisition

The newly acquired portfolio is a significant asset base, comprising 60 individual solar photovoltaic plants strategically located across Spain. Collectively, these facilities generate an impressive 127 gigawatt-hours (GWh) of clean electricity each year. This output has a profound environmental and social impact, sufficient to power approximately 28,000 homes and displace an estimated 86,000 tonnes of CO₂ emissions annually.

Strategic Diversification Following Impressive Spanish solar investment: IST’s 91 MW Power Play

This acquisition represents IST’s second major investment in Spanish renewables, underscoring a deliberate strategy to build a diversified portfolio in one of Europe’s most dynamic clean energy markets. The move complements a previous investment in a 25-plant hydroelectric portfolio, now operating under the name Rainergy. By adding a large-scale solar platform, IST is solidifying its commitment to the region’s energy transition.

A transaction of this scale involved a host of expert advisors. Bestinver was guided by Cuatrecasas and EY in the sale. IST relied on a comprehensive advisory team that included Renta 4, Pérez Llorca for legal counsel, KPMG for accounting and tax diligence, and AFRY for technical, market, and regulatory analysis. The deal is a clear indicator that established, operational green assets are highly sought after by institutional investors seeking stable, long-term returns.

Sources

1. Renewable energy news: InfraRed, Credit Agricole, IST Investment
2. IST3 Infrastruktur Global Acquires 91 MW Solar Portfolio
3. [PDF] Switzerlandʼs IST3 buys Bestinver Spanish solar portfolio – istfunds.ch
4. Swiss Pension Fund IST Acquires Bestinver’s 91 MW Solar Platform
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