Solar PV power generator Grupo T-Solar, insurance group Munich Re, represented through its asset management arm MEAG, and global investment firm Kohlberg Kravis Roberts & Co. LP (KKR) have announced that Munich Re and KKR have partnered to acquire a 49% equity stake in the existing operating assets of Grupo T-Solar.
The assets being acquired comprise a diversified portfolio of 42 solar PV plants located in Spain (34 plants) and Italy (8 plants) with an aggregate installed capacity of 168 MW and a generation capacity of over 250 GWh per year of clean energy, according to the companies. These assets will be housed in a new company named T-Solar Global Operating Assets, in which Grupo T-Solar will continue to retain a 51% equity stake and provide management services.
MEAG and KKR have also entered into an agreement with Grupo T-Solar that gives the company the option to acquire new solar plants developed by Grupo T-Solar once they are fully operational.
