Credit Suisse infrastructure fund invests in Spanish solar assets

Credit Suisse Energy Infrastructure Partners and ContourGlobal have formed a partnership to invest in renewable energy assets in Europe.

A fund advised by Credit Suisse Energy Infrastructure Partners has agreed to acquire 49% of ContourGlobal’s 250MW portfolio of concentrated solar power assets in Spain for €134m.

London-listed ContourGlobal acquired the portfolio earlier this year from Acciona and is in charge of operations, maintenance and asset management.

The deal follows Credit Suisse Energy Infrastructure Partners’ acquisition of a 49% stake in ContourGlobal’s solar PV portfolios in Italy and Slovakia in October for €63m.

Credit Suisse Energy Infrastructure Partners and ContourGlobal are pursuing a consolidation strategy in the fragmented Italian solar PV market with additional acquisitions of 135MW of small-to-medium scale solar assets.