News

2020-11-24

Kobus Partners completes the investment of its second fund with the purchase of four 13 MW photovoltaic farms

Kobus Partners

Madrid, November 2020. - Kobus Partners, the Spanish venture capital manager specializing in infrastructure and renewable energy, has completed the investment of its second investment vehicle, Kobus Renewable Energy (KRE) II FCR, with a new purchase. It is a package of four photovoltaic projects with an aggregate installed capacity of 12.9 MW, and located in Valladolid, Huelva, Seville and Córdoba (7.5 MW, 2.5 MW, 2.4 MW and 0.5 MW , respectively).


Created at the end of 2017, Kobus Renewable Energy II is endowed with 65 million euros, destined to acquire renewable energy operating farms with regulated income in Spain, executing a strategy of operational consolidation and financial restructuring thereof.


Kobus Renewable Energy II FCR has totaled an investment - adding debt - of 250 million euros in a total of 22 investment projects in renewable energy, which allows it to provide green energy to more than 20,000 Spanish homes.


Kobus Partners, which has already successfully completed the divestment of its first vehicle: KRE I in 2019, is managing investments worth more than 250 million euros through KRE II and is working on the commercialization of its new fund with which it will seek to build and operate a portfolio of renewable projects in excess of 500 MW.


Growth of the Spanish market

Spain is the fifth country in Europe that produces the most energy from renewable sources. Five regions account for almost 70% of the installed renewable power: Castilla y León, Galicia, Andalucia, Castilla-La Mancha and Extremadura.


The decarbonisation of electricity production and the closure of nuclear power plants will imply the replacement of 10.0 GW and 7.5 GW, respectively. To cover this deficit, it is estimated that the installed renewable energy capacity will have to increase by 46 GW (2030), 32 GW (2040) and 26 GW (2050), respectively. It is expected that between now and 2050 the installed capacity in Spain will be 100% renewable.