Reden and Vinefield Capital have acquired a 400MW-plus Spanish solar portfolio from Viridi RE and Solar Ambition.
The construction of all the portfolio’s assets will involve a total investment of over €300m.
The assets are expected to generate enough electricity to fully power over 250,000 Spanish households, reducing their carbon footprint by over 330,000 tonnes of CO2 emissions per year.
Reden was established in France in 2008 and is an independent producer of solar renewable energy, focusing on the development, construction and operation of PV both in Europe and beyond.
The company has brought close to 1GW of projects to market since its founding and plans on delivering a further 4GW of assets in the next five years.
Vinefield Capital is a Madrid-based investment manager specialised in transactions involving green real assets.
The Vinefield team has successfully closed asset transactions across all five continents, and at all stages of an asset’s lifecycle, for a combined value of over €5bn.
The Madrid team of law firm Watson Farley & Williams advised Reden and Vinefield Capital on the deal, led by Madrid office head and corporate partner María Pilar García Guijarro.