KKR, on behalf of KKR Global Infrastructure Investors II, has acquired an 80 percent stake in Gestamp Asetym Solar, a Spain-based solar power firm, from Gestamp Renewables, according to a statement.
KKR Global Infrastructure Investors II closed earlier this month; the $3.1 billion global fund focuses on identifying, pursuing, executing and managing infrastructure investments.
“Gestamp is another example of how KKR can bring capital and capability to meet the vast demands for infrastructure development around the world. KKR continues to actively invest across a broad spectrum of infrastructure from energy to telecom to water to transportation to meet critical needs and public policy objectives,” said Marc Lipschults, global head of energy and infrastructure for KKR, in a statement.
Gestamp Solar is a global solar photovoltaic developer and operator with plans to have up 2.5 gigawatts of installed capacity in operation by 2020. The solar developer is currently present in 18 countries and has 300 megawatts of photovoltaic projects in operation or construction, with an additional 2.2 gigawatts in development.