Private equity firm Kohlberg Kravis Roberts (KKR) and MEAG, an asset management unit of the German insurance group Munich Re, have acquired a 49 percent stake in the assets operated by Grupo T-Solar, a Madrid-based solar photovoltaic power company. Financial details of the deal were not disclosed.
Grupo T-Solar will retain a 51 percent stake and provide management services for the assets. The company’s existing assets include 42 solar photovoltaic plants — 34 in Spain and eight in Italy — with a total installed capacity of 168 megawatts and a generation capacity of more than 250 gigawatts per year. MEAG and KKR also have entered an agreement with Grupo T-Solar that gives the consortium the option to acquire new solar plants developed