Investment manager Quercus Real Assets has started a process seeking a strategic investor for the construction and operation of an 800MW solar portfolio in Spain that it has acquired and developed since 2020.
The international tender is being managed by Greenhill, an independent investment bank.
Quercus said bidders are likely to be among the major industrial and financial investors in the sectors.
Quercus, since inception, invested in the construction and operation of solar and wind infrastructures, completing more than €1bn in gross investments in five European countries.
In 2019 the investment manager changed its strategy to adjust to the ever-evolving renewables market and undertook investment in the permitting process that would lead to the construction of new renewable energy assets.
This new strategy lead to the decision to dispose of the portfolios, all generating positive performance and in aggregate a return for investors higher than 8% at the date of the sale, it said.