Kobus Partners launches to the market its third renewable fund
Kobus Partners, a private equity manager specializing in the renewable energy assets, has launched its third renewable investment fund: Kobus Renewable Energy III.
This new fund, whose first closure took place in November 2020, will invest in projects that are in the final phase of development, under construction or in operation, both in photovoltaic and wind energy and will focus its investment strategy in Spain – mainly- Italy and Portugal, with the aim of building and operating a portfolio of 500 MW.
Kobus Partners’ third vehicle, which currently manages renewable energy assets of more than 250 million euros through previous vehicles, plans to continue its fund-raising phase throughout 2021 or until reaching its goal of 150 million euros, from institutional investors and private banks.
Last month, the Manager completed the refinancing of all the debt of the portfolio of assets owned by Kobus Renewable Energy II, for a total of 207 million euros through a hybrid financing between bonds and project debt, by Macquarie, Bankinter and Santander.
The technological maturity of renewable projects, their competitiveness compared to generation based on fossil fuels, compliance with environmental regulations and emissions to the atmosphere and the need to renew the generation fleet are the engine of this energy transition unstoppable, which will propel us towards a cleaner, more sustainable and efficient energy mix, and which will turn the sector into one of the major sources of investment over the next decade (only in Spain, the installation of between 3,000 and 5,000 MW is expected every year), say Carlos García-Monzón and Pablo Guinot, founding partners of Kobus Partners.
With this new fund, the management team re-invests the development and construction phases, where it has the experience of having promoted, built and operated near to 1,000 MW in photovoltaic, wind, and solar thermal assets globally.
First investment in a photovoltaic project that will start operation in 2022
Kobus Renewable Energy III, has completed its first investment through the acquisition of a photovoltaic solar project in Spain. The asset, which will be located in Granada, will begin operations in 2022, providing green energy to around 17,000 homes and avoiding 24,000 tons of CO2 emissions into the atmosphere.
For the closing of this operation, Kobus has had the legal advice of Gómez Acebo & Pombo and ATA Renewables, technical advisor on the purchase.
This first purchase is part of the fund’s strategy of acquiring projects that are in the final phase of development, partnering with top-level developers and thereby complying with the established business plan.