F2i expands into the Spanish renewable energy market. The first Italian infrastructure fund has signed an agreement to purchase some wind farms already in operation from the Villar Mir Group: 53 megawatts of capacity and wind projects for another 430 megawatts located in the northern regions of Spain. The transaction confirms the positive trend of financial transactions on renewables in the first six months of 2022 certified by Bloomberg Intelligence. F2i, is in partnership with Crédit Agricole Assurance and together they will divide the capital respectively into 40 and 60%. Both subjects will have, however, interest also in the development of solar as well as wind. For F2i and CAA - says an official note - the investment represents an important further development step in the Spanish market, within the framework of a well-rooted presence in the sector of electricity generation from renewable sources.
F2i, through its subsidiaries EF Solare and Sorgenia, manages over 1.300 Megawatts of wind, photovoltaic and plant biomass in Italy. In Spain it controls, however, Renovalia buys in 2019 with about 200 Megawatts and projects under construction. But we are also working on projects for another 1.200 megawatts.
Spain attracts green investments
Spain is taking important steps forward on the road to energy diversification. For some years the market has been characterized by abundant natural resources, both solar and wind power with a vast availability of land available. All favored by a low rural population density and an easier regulatory and authorization framework. Evidently the Italian companies do well in terms of depreciation and revenues within a few years. In reality, this is the fourth investment for the Fund through the Sustainable Infrastructure Fund (Fondo V), launched just a year ago which has already raised around 1,3 billion euro, out of a target of 1,5 billion.
Renato Ravanelli, Chief Executive Officer of F2i Sgr, explains the operation as follows: “We are taking an important step towards consolidation in the renewable energy market in Spain, where the Fund has already been active since 2019 with the photovoltaic operator Renovalia. The acquisition of the Villar Mir wind farms complements the solar business in one of the most promising markets in Europe for renewable energies and lays the foundations for a portfolio of European renewable assets, increasingly strategic in the current macroeconomic and geopolitical context”. An assessment that must make us reflect on the push that Italian institutions must also give to the growth of investments with respect to European objectives. The appeals they are not missing.
