Partners Group has bought 13 operational solar-power plants in Italy and plans to acquire more.
The Swiss private equity manager acquired assets with a combined capacity of 26 megawatts in two deals from different sellers, one of them including Renovalia Energy SA. According to sources, Partners expects returns of 11 - 15 %.
The company said in an email statement that the plants will be the first in a series of expected acquisitions to build out a solar power platform in Italy, with focus in northern and central Italy.
The acquisition includes 10 generators near Rovigo and three plants in the Lazio region. The plants are selling power to the grid under 2010 and 2011 feed-in-tariff regulations.
In January 2014, Partners Group announced that its Partners Group Global Infrastructure 2012 program, had closed at €1 billion. The fund is the largest dedicated infrastructure vehicle ever raised by the firm. The company also said it has partnered with Equis Funds Group to develop a dedicated Japanese solar platform with US$250 million to invest.
The firm bought a majority stake in Mexican gas transportation business Fermaca valued at approximately US$750 million, also in January 2014.