Velto Renewables will acquire 260MW of regulated solar projects in Spain from Bankinter Investment and Plenium Partners.
The transaction covers 53 operational assets with an estimated enterprise value of €1.1bn.
The portfolio generates more than 360GWh of electricity annually, supplying nearly 100,000 households and avoiding 36,400 tonnes of CO₂ emissions.
Velto CEO Lucas de Haro said the deal expands the company’s Iberian presence and creates opportunities for synergies with existing projects.
The acquisition includes 163MW from Helia II FCR, an investment vehicle launched by Bankinter and Plenium in 2018, as well as a further 97MW contributed directly by Plenium.
Bankinter and Plenium said the sale followed their strategy of consolidating assets, improving operations and optimising financial structures.
The deal remains subject to regulatory approval and customary closing conditions.
Advisors to Bankinter and Plenium included Gómez Acebo Pombo, Enertis, EY and KPMG, while Velto was supported by ING, Watson Farley & Williams, Vector Renewables and EY.
Velto, backed by Canadian investor La Caisse, owns more than 280MW of solar and wind assets in Spain and France, and holds a 25% stake in a 630MW offshore wind farm in the UK.