IST Invests in Spanish Solar: Acquires 91 MW Portfolio from Bestinver
In a significant move underscoring the growing institutional appetite for mature renewable energy assets, Swiss pension fund investor IST has acquired a substantial solar portfolio in Spain from Bestinver. The deal, valued at over €330 million, marks a major expansion of IST’s clean energy footprint in the Iberian Peninsula.
The acquisition was finalized through IST3 Infrastruktur Global, with its Spanish subsidiary, Terralys Renovables, taking ownership of the assets. The seller, Bestinver Infra FCR, is the renewable energy platform of Acciona’s asset management division.
A Powerful Addition to the Spanish solar investment Portfolio
The divested platform is a significant collection of solar assets, demonstrating the scale and maturity of Spain’s solar energy market. The key details of the portfolio include:
- Total Capacity: A combined installed capacity of 91 megawatts (MW).
- Number of Plants: The portfolio comprises 60 individual solar photovoltaic plants spread across Spain.
- Clean Energy Generation: Annually, these plants generate over 127 gigawatt-hours (GWh) of clean electricity.
This level of energy production has a tangible environmental impact, capable of powering approximately 28,000 households and preventing an estimated 86,000 tonnes of COâ‚‚ emissions each year.
Strategic Expansion in Spanish solar investment Renewables
This transaction represents IST’s second major investment in Spain’s renewable energy sector, signaling a clear strategic focus on the region. It follows a previous participation in the acquisition of a 25-plant hydroelectric portfolio, which now operates under the name Rainergy. By adding a large-scale solar platform to its holdings, IST is diversifying its renewable energy investments and solidifying its presence in one of Europe’s most promising clean energy markets.
The Dealmakers
A transaction of this magnitude requires significant expertise from a range of advisors.
Bestinver was supported by Cuatrecasas and EY throughout the process.
On the buyer’s side, IST was advised by a team of leading firms, including:
* Renta 4
* Pérez Llorca (Legal)
* KPMG (Accounting and Tax)
* AFRY (Technical, Market, and Regulatory)
This acquisition is a clear indicator of the broader trend of institutional investors seeking stable, long-term returns from established clean energy infrastructure across Europe. As the continent continues its transition away from fossil fuels, deals like this are becoming increasingly crucial for financing the future of energy.
