Tages Capital SGR announced that the acquisition – the signing of which had already been communicated on 27 December 2018 – of the Tosca wallet – three photovoltaic plants located in Veneto and Lazio with a total capacity of 85 MW by Glenmont Partners – through the Glennmont Clean Energy Fund Europe I.
With the new acquisition, Tages has completed the investment of the first fund Tages Helios three years after its launch. Tages Helios has raised capital amounting to 253 million euros, winning the interest of institutional investors including insurance companies, pension funds, social security funds, banking foundations and banks.
Thanks to the fund Tages Helios II, launched in July 2018 and with funds amounting to 150 million euros, Tages Capital intends to continue the project to consolidate the Italian photovoltaic sector and seize investment opportunities in wind farms. Tages Capital, continues the note, will continue raising capital in Tages Helios II with the aim of reaching a total endowment of 400 million euro over the next two years.
Umberto Quadrino, Chairman of Tages SpA declared: “The completion of the Tages Helios investment represents an important milestone in the growth of Tages Capital SGR. In just three years, our company has established itself as the second Italian operator in the photovoltaic sector. With the Tages Helios II fund, we intend to continue our strategy of growth and value creation. We still see many consolidation opportunities in the Italian renewables market and we are confident that with Tages Helios II we will be able to replicate the successes achieved in the Tages Helios investment”.
