London, 1 February 2021
Macquarie Infrastructure Debt Investment Solutions (“MIDIS”) has today announced a €117 million debt investment in a portfolio of Spanish solar projects owned by Kobus Partners.
The 37.7 MW capacity portfolio is comprised of 22 operational solar plants located across Andalusia, the Balearic Islands, Castilla-La Mancha, Castilla and León, Murcia and The Valencian Community. The portfolio’s electricity generation can power the equivalent of more than 14,500 Spanish households and avoid 22 kt CO2e annually.
MIDIS was the largest single investor in Kobus Partners’ €207 million refinancing, working closely with the Spanish alternatives fund manager to establish a more efficient and long-term financing solution for its core solar portfolio. MIDIS’ investment was made on behalf of European and Japanese pension schemes and insurance clients.
Tom van Rijsewijk, Managing Director at MIDIS, said; “Through this partnership with Kobus Partners we have demonstrated the role institutional capital can play in helping to finance Spain’s ambitious plans for a green recovery and its transition to a net zero economy. We continue to see a significant opportunity for our investors in the local renewable energy market and were delighted to have been able to support Kobus Partners in achieving their goals for their solar portfolio.”
Pablo Guinot, Co-Managing Partner at Kobus Partners, said; “This refinancing is an important enabler of our long-term growth ambitions in the renewable energy sector. MIDIS has been a partner throughout this process, drawing on their deep understanding of the market and access to long-term institutional capital to structure a financing solution tailored to our needs.”
MIDIS has supported the growth of the Spanish solar sector since 2018, providing financing to local operators, developers, and investors including Grupo T-Solar, Q-Energy, Eliantus Energy, and Sonnedix.
MIDIS has made €2.6 billion of green energy debt investments globally since 2012 across 38 projects representing 15 GW of generation capacity.
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Macquarie Infrastructure Debt Investment Solutions (MIDIS) was established in 2012 and has quickly become one of the world’s largest infrastructure debt asset managers – raising more than €11 billion in commitments from some of the world’s most prominent institutional investors for its investment grade and sub-investment grade strategies.
MIDIS is part of Macquarie Asset Management (MAM) – the asset management arm of Macquarie Group. MAM is a top 50 global asset manager, providing investment solutions to clients across a range of capabilities, including infrastructure and renewables, real estate, agriculture, transportation finance, private credit, equities, fixed income and multi-asset solutions. As at 30 September 2020, MAM had €339 billion of assets under management.
Macquarie Group is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,849 people in 31 markets.
Kobus Partners is an investment fund management firm specialized in energy and infrastructure investments, formed by a team that brings together more than 1.2 billion euros of equity invested in more than 30 renewable generation projects in 10 different countries. Since its creation in 2016, Kobus Partners has led the execution of transactions worth more than 400 million euros, has more than 250 million euros of assets under management, and is currently raising their third fund of 150 million euros.