(Finance) – Tages Capital SGRan asset manager specializing in private markets alternative investment funds, announced two new acquisitions through its Tages Helios Net Zero fund dedicated to investments in renewable energy and the energy transition.
The first acquisition concerns a portfolio consisting of 151 photovoltaic systems already operational with a total capacity of 122.7 MW, almost all located in Puglia; of these, 99 MW have tracker technology.
The second portfolio consists of 45 photovoltaic systems already operational with an installed capacity of approximately 38.1 MW located in Campania, Puglia, Molise, Emilia-Romagna, Marche, Lombardy, Sicily and Lazio.
For the two acquisitions Tages Capital SGR was able to make use of a financing amounting to 563 million euros which includes credit lines functional to acquisitions already completed, the refinancing of pre-existing debt and the financing of revamping and repowering interventions on plants, as well as residual availability functional to further investment activities to be carried out in the future.
The financing was made available by a pool of six banks which includes BNP Paribas, Intesa Sanpaolo, Société Générale, Banco Bilbao Vizcaya Argentaria, Credit Agricole and Banco BPM, all with the role of bookrunner, green loan coordinator and lender. Intesa Sanpaolo also acted as Custodian Bank and Agent Bank.
Additionally, one was finalized in early May further financing operation for totals 153 million euros, functional to some investments made by the Tages Helios II fund during 2023 for the acquisition of a total of 99 MW of photovoltaic systems. The credit lines were signed by 8 banks: BNP Paribas, Intesa Sanpaolo, Société Générale, Banco Bilbao Vizcaya Argentaria, Bayerische Landesbank, Banco BPM, BPER Banca and CaixaBank, all with the role of bookrunner, green loan coordinator and lender. Intesa Sanpaolo also acted as Custodian Bank and Agent Bank.
“With these two important acquisitions, Tages consolidates its position as the second Italian operator in the photovoltaic sector – he commented Umberto Quadrino, president of Tages and CIO of Tages Capital SGR – The financing operations carried out with leading Italian and international banks demonstrate that Tages is today a reference player in the renewable energy market recognized by the financial world. Thanks to the two acquisitions, Tages has recalled approximately 90% of the 330 million euros raised in the first year of fundraising of its third Tages Helios Net Zero fund. The fund continues to attract institutional investors and private banking networks thanks to an excellent risk-return profile and regular distributions.”
(Photo: Carrie Allen www.carrieallen.com on Unsplash)