Quercus announces its first wind energy investments in Spain
The European fund will invest in two wind power plants of 28 and 20 MW in Cadiz and Malaga.
London, Milan, Tudela, 10th of September 2018 – Quercus, a European fund manager specializing in renewable infrastructure investments, has announced today that an agreement has been reached for it to acquire from Grupo Enhol its ownership stakes in two operating wind farms in Cadiz and Malaga (Spain) with an overall installed capacity of 48 MW. These investments together are worth over € 60 million and represent an important addition to Quercus’s Europe-wide renewable generation platform, marking the strong interest of Quercus in the Spanish renewable generation infrastructure.
Grupo Enhol is an independent Spanish company, a leader in renewables with more than 20 years of experience. Grupo Enhol is currently developing a big portfolio of renewable energy projects of more than 800 MW in Spain and other countries.
Quercus Assets Selection was supported by Golden Corporate as the transaction advisor, and by Watson Farley & Williams Spain as its legal advisor.
Grupo Enhol was supported by Greenhill & Co as the transaction advisor, and by Perez-Llorca as the legal advisor during negotiations of final agreements.
Diego Biasi, CEO of Quercus, said: “These two transactions lay the foundation of our presence in Spain, a market that, in our view, presents attractive opportunities to our investors. We are aiming at growing our footprint in Spain by further acquisition of wind and solar power capacity. We are also working on new opportunities in other countries across Europe through Quercus European Renewables investment fund with an objective of creating a broad portfolio of generating assets that provides diversification across different generation technologies and electricity markets, which will ensure our confidence in delivering secure and predictable returns to our investors.
Diego Oliver and Gonzalo Oliver, Managing Directors of Grupo Enhol said: “This operation represents a strategic sale of asset rotation of Grupo Enhol in order to continue the development of the company and to carry out new constructions of wind power plants in Navarre, Spain”.
About Quercus Assets Selection:
Founded in 2010 by Diego Biasi, the current CEO, and Simone Borla, Quercus Assets Selection is one of the foremost European funds specialising in renewable energy. From foundation to present, the fund has managed five different technology and investment policy strategies: from construction to M&A activity. It has to its credit a Joint Venture with the UK government in the English biomass sector and with SwissLife in the Italian photovoltaic market for large-scale infrastructure.
About Grupo Enhol:
Grupo Enhol is a family-owned business group, managed by the fourth generation, located in Navarre (Spain), highly diversified by presence in several sectors of economy, energy being the main one. Grupo Enhol began its activities in the 1930s and is a pioneer in the renewable energy sector, starting this activity more than 20 years ago. Grupo Enhol develops and invests in its own and third-party large-scale renewable generation projects.