Renewables asset manager Alantra Solar has secured €50 million (US$54.17 million) from Spanish financial group Banca March for a 1.8GW solar portfolio in Spain and Italy.

Alantra Solar said a “significant percentage” of 40 solar PV plants will feature battery energy storage systems (BESS). Solar developer Solarig is developing all the plants, with the last one expected to reach ready-to-build status before the end of 2025.

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Banca March and co-investor clients will participate in the portfolio through a European venture capital fund in the form of a public limited company. These companies will invest in the capital of N-Sun Energy, Alantra and Solarig’s joint solar investment vehicle, which will gradually acquire more than 40 solar PV plants, with about 70% of them located across Italy.

All investment platforms of the 40 solar PV plants will invest a total of €1.7 billion, of which €700 million will be equity and the remaining €1 billion debt.

Prior to this, Alantra and Solarig secured €213 million to support the construction of seven solar PV projects with a total 306MWp of generation capacity in Southern Europe. This €213 million financing came from Rabobank, acting as bookrunner and coordinator on behalf of a syndicate of banks comprising ABN AMRO, BNP Paribas, Commerzbank and Coöperatieve Rabobank.

PV Tech publisher Solar Media will be organising the 12th annual edition of Large Scale Solar Europe in Lisbon, Portugal, 26-27 March. The event will explore the solar manufacturing future in Europe, panel on several markets including Italy, Ireland and Czechia as well as permitting and planning bottlenecks among others. More information, including how to attend, can be read here.

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