Spanish insurance group MAPFRE has launched its first renewables fund — MAPFRE Energías Renovables I FCR — further leveraging the ongoing strategic alliance with Spanish energy company Iberdrola toward creating sustainable investment products.
Energías Renovables I FCR will be used by the insurance group both to channel its own investments into renewables, but also to allow other institutional investors to tap into the strategy, as is the case with similar MAPFRE investments in real estate, infrastructure, venture capital and traditional assets.
MAPFRE will work with Kobus Partners to manage the fund, while Blue Tree Asset Management and King & Wood Mallesons have respectively acted as technical and legal consultants.
Simultaneous to the fund launch, MAPFRE and Iberdrola have also announced Energías Renovables Ibermap SL (Ibermap Renewables), a pioneering co-investment vehicle that, after incorporating a further 95 megawatts (MW) of operational wind f
