InfraRed – Acquisition of solar PV pipeline in Spain

InfraRed Capital Partners’ fifth infrastructure fund has acquired a 80% stake in a 1.5GW solar PV development pipeline in Spain from developer Progressum Energy Developments. The Giralda portfolio comprises several utility-scale projects in the southern Spanish regions of Andalusia and Castille La Mancha. Progressum is part of the Bester Group, a Spanish renewables construction business and operator, which has previously collaborated with InfraRed building solar parks in Mexico. Financial details of the transaction have not been disclosed