13:42 uur 15-12-2020

I Squared Capital gaat Grupo T-Solar, een toonaangevend Europees platform voor hernieuwbare energiebronnen, verkopen aan Cubico Sustainable Investments Ltd

MADRID & LONDEN– (BUSINESS WIRE) – I Squared Capital, een toonaangevende wereldwijde infrastructuur investeringsmanager, kondigt aan dat het een overeenkomst is aangegaan om Grupo T-Solar te verkopen aan Cubico Sustainable Investments Ltd, de specialist in hernieuwbare energie die gezamenlijk eigendom is van Ontario Teachers’ Pension Plan en PSP Investments, voor een totale ondernemingswaarde van € 1,5 miljard.

“Ons doel tijdens ons rentmeesterschap van T-Solar was om de activiteiten te verbeteren, het platform te laten groeien en T-Solar te vestigen als een leider in hernieuwbare energie in Spanje. We zullen wereldwijd blijven investeren in de opwekking van hernieuwbare energie en in transitie-energie in zowel industriële als groei -economieën ”, aldus Sadek Wahba, voorzitter van Grupo T-Solar en Managing Partner van I Squared Capital.

I Squared Capital to sell Grupo T-Solar, a Leading European Renewables Platform, to Cubico Sustainable Investments Ltd

MADRID & LONDON–(BUSINESS WIRE)– I Squared Capital, a leading global infrastructure investment manager, announces that it has entered into an agreement to sell Grupo T-Solar to Cubico Sustainable Investments Ltd, the renewable energy specialist jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, for a total enterprise value of €1.5 billion.

“Our objective during our stewardship of T- Solar was to improve operations, grow the platform and establish T-Solar as a leader in renewables energy in Spain. We will continue to invest globally in renewables generation as well as transition energy in both industrial and growth economies,” said Sadek Wahba, Chairman of Grupo T-Solar and Managing Partner of I Squared Capital.

A leading European renewables platform, Grupo T-Solar has 274 megawatts of installed and regulated capacity in Spain and Italy with growth prospects underpinned by a 1.4-gigawatt pipeline of solar photovoltaic projects.

Marta Martinez Queimadelos, CEO of T-Solar stated that, “Under I Squared Capital’s ownership, Grupo T-Solar grew from 168 to 274 megawatts of installed capacity in Europe, and recently completed one of the largest financings in the Spanish renewable energy market of €568 million through a landmark green bond issue.”

Last year alone, Grupo T-Solar’s projects generated over 602 gigawatt-hours of clean electricity and avoiding over 216,000 tons of CO2 emissions.

Mohamed El Gazzar, Partner of I Squared Capital in London stated, “To date we have invested in approximately 600 megawatts of operating renewable assets and have a pipeline of close to 3 gigawatts of various technologies including onshore and offshore wind, solar, storage, and anerobic digestion. We are also focusing on improving the energy efficiency of our assets across the sectors we invest in and providing solutions for security of power, which is critical in addressing the intermittent nature of renewable generation.”

About I Squared Capital:

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, digital infrastructure, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi, New York, and Singapore. The firm has $19.3 billion in assets under management and owns and operates a diverse portfolio of 26 companies. For more information, please visit: http://www.isquaredcapital.com/


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