Infracapital has agreed to buy a portfolio of roughly 200 Industrial Energy Solutions (IES) assets from Enel’s Spanish subsidiary, on behalf of its Infracapital Greenfield Partners I (IGP I) fund.
The deal marks Infracapital’s second investment in Spain, and the IGP I fund’s first project in the country. The acquisition expands on an existing joint venture between Infracapital and Enel X, which launched in Italy in December 2018.
IGP I invests, delivers and operates greenfield infrastructure assets in late-stage development, construction and expansion phases across a variety of sectors in an effort to meet the changing needs of society and support long-term economic growth across Europe, according to Infracapital. IES helps clients meet energy efficiency, carbon and cost reduction targets through a range of projects such as cogeneration and electrical infrastructure.
The deal grants Infracapital an 80 percent stake in the newly created Spanish company IES,
