March 1 (Renewables Now) – Spanish funding platform Q-Power introduced on Monday that it’s going to make investments EUR 9 billion (USD 10.1bn) in renewable power, power storage and distribution initiatives beneath the 2022-2025 strategic plan, and is evaluating a EUR-1-billion transaction to allow the potential entry of a brand new companion in its gigawatt-scale asset portfolio in Spain.
The Madrid-based renewables investor mentioned that its technique will deal with diversifying power sources and applied sciences, and increasing Q-Power’s international footprint.
In Spain, Q-Power is analysing the opportunity of permitting a brand new strategic companion to enter in its operational vegetation and initiatives beneath growth. This transaction might embody a set of 80-MW photo voltaic PV property and a 4.5-GW portfolio of PV and wind energy initiatives beneath growth in varied elements of Spain, Q-Power mentioned.
Beneath the plan, Q-Power will search for alternatives to spend money on a spread of renewable power applied sciences, comparable to photo voltaic, wind, hydrogen, biomass, storage and sensible grids, and discover investments in power-to-X schemes.
As for the worldwide enlargement, the agency will search to determine new markets in Europe, the US and Latin America, specializing in ones with sturdy renewable power momentum and secure regulatory frameworks.
Q-Power already has workplaces in Berlin and London. In Italy, Q-Power partnered with Palladio Holding to collectively develop initiatives, however the agency will open an workplace in Milan to discover native alternatives independently, it mentioned.
Q-Power was launched in 2006 as a renewables-focused platform of Spanish different asset supervisor Qualitas Fairness. In 2007, Q-Power based Fotowatio Renewable Ventures (FRV), its funding automobile on the time and now a worldwide impartial energy producer in its personal proper after the sale to Abdul Latif Jameel Power in 2015.
After deploying investments by means of 4 funds through the years, Q-Power now manages greater than 1.2 GW of photo voltaic PV capability, 242 MW of concentrated solar energy (CSP) vegetation and 325 MW of wind farms in Spain, Germany, Poland and Italy.
(EUR 1.0 = USD 1.12)