RIVE Private Investment acquires 28 MW of wind farms in Spain

European private equity investment firm RIVE Private Investment last week announced the acquisition of two wind farms in Spain with a combined capacity of 28.15 MW.

The wind farms, Sierra de Aguas and Sierra de Banos, are located in Andalusia and have been in operation for nine years on average. They use Gamesa G52 and Gamesa G87 turbines, which are currently maintained by the manufacturer.

RIVE Private Investment partnered with Spanish investment services firm JB Capital Markets on the deal, with the latter acting as local co-investor for 15% of the equity. JB Capital Markets will also be in charge of the investment oversight of the wind farms. A debt refinancing accord has been reached with Banco Sabadell.

Jean-Philippe Olivier, managing partner at RIVE Private Investment, said this is the firm's "very first investment in Spain where the renewable energy market is getting more active again," and added the company expected to realise more investments in Spain in the near future across this and its other target asset classes. "This park is a great way to start with a resilient asset through high wind resource but offering as well upside opportunities through repowering," Olivier said.

For JB Capital Markets this is the first deal in the renewables sector.

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