HIH Invest Real Estate has acquired a 15.1MWp solar park in southern Spain from BayWa re for an unspecified amount.
The European real assets manager said it has acquired the Alcalá solar park in Seville province on behalf of the HIH Green Energy Invest fund.
HIH Invest said BayWa re will also handle the technical and commercial management of the solar park for the long term.
André Rolff, head of transaction management international at HIH Invest, said: “We acquired the solar park along with an existing virtual power purchase agreement for an initial term of ten years, which was signed with Boston Scientific, a major US medical technology vendor.”
Alexander Eggert, managing director of HIH Invest, said: “With the acquisition of the Alcalá solar park, we are enlarging the portfolio further while optimising its regional and technical diversification at the same time. The conditions on the ground in the sun-blessed province of Seville combine with the use of yield-optimised system components to provide optimal parameters for a high-yield energy production.
”By investing in HIH Green Energy Invest, our clients actively contribute to the energy transition while the fund will pay them about 7% in returns on investment.”
HIH Green Energy Invest, a €750m Article 9 fund under the EU Sustainable Finance Disclosure Regulation, focuses on existing and ready-for-construction photovoltaics and wind power plants in Germany, France, Italy and Spain.
The manager said the fund will also consider investments in the Benelux countries, the UK, Ireland, Poland, Portugal, and the Nordics.
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