Statkraft connects 44.5-MW solar farm to grid in Spain
Sep 19, 2024 15:28 CESTSpanish renewables investor Qualitas Energy, formerly Q-Energy, said on Tuesday that its fifth flagship fund QE V held a first close at over EUR 1.1 billion (USD 1.13bn) to raise money for the energy transition projects in several countries in Europe.
The target size of the new fund is EUR 1.6 billion. After reaching the first close, the new vehicle is as stuffed as QE IV, which closed in July 2021 and has since been fully invested.
Through QE V, Qualitas Energy will primarily make direct investments to Germany, Spain, Italy, Poland and the UK. The focus will be on renewable energy assets in operation and under development, including assets with repowering potential, and infrastructure projects enabling the energy transition, such as batteries, the Madrid-based investor said.
The fifth fund’s first investment was the acquisition of a controlling stake in UK biomethane development platform Acorn Bioenergy.
“QE V will allow us to broaden our investment strategy by identifying opportunities across different renewable energy sources, such as solar, wind, biomass, renewable energy storage solutions and essential infrastructure, in order to accelerate the energy transition as a whole,” said Inigo Olaguibel, Qualitas Energy CEO and founding partner.
The company on Monday announced it was bringing back its old name Qualitas Energy, after being known as Q-Energy. The renewables fund manager emerged from Spanish alternative asset investor Qualitas Equity in 2006.
(EUR 1.0 = USD 1.032)
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