Luxembourg-headquartered infrastructure investor Marguerite plans to invest up to €60 million to launch an investment platform catered to greenfield solar PV projects. The investment will be made by its latest fund, Marguerite III.
The platform aims to establish a portfolio of over 2GW of developed and in-development projects over the next six years. Marguerite will develop utility-scale solar PV assets in European countries, including France, Spain, Italy, Germany, Austria and Poland.
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Marguerite will prioritise in-house development or co-development with local partners and, in some cases, build the infrastructure before selling it to utilities or other investors.
The company said the investment aligns with its strategy to invest in “infrastructure that intrinsically contributes to climate change mitigation and adaptation”. Additionally, the platform complements Marguerite II’s investment in ZE Energy, an independent power producer that develops, builds and operates hybrid solar-plus-storage power plants across Europe.
“The rationale behind our decision to invest in this platform was that this market benefits from high premiums for ready-to-build assets, and an agile approach is critical to respond quickly to changes in market conditions and take advantage of new opportunities as they arise,” said Guillaume Rivron, partner at Marguerite.
The platform will be led by renewables industry veterans Josef Kastner and Chloé Durieux.