Velto Renewables acquires 260 MW of regulated photovoltaic projects in Spain from Bankinter and Plenium Partners

Velto Renewables, backed by La Caisse (formerly CDPQ), today announced the acquisition of a portfolio of regulated photovoltaic projects with 163 MW of installed capacity in Spain from Helia II VCR, a renewable assets investment vehicle launched in 2018 by Bankinter Investment SGEIC and its partner Plenium Partners. At the same time, Plenium Partners has added a 97 MW photovoltaic portfolio of its own to the global transaction with Velto.

The two portfolios comprise a total of 53 operating assets distributed across various regions of the country, with a combined installed capacity of approximately 260 MW. The total transaction value amounts to approximately 1.1 billion euros.

The projects generate more than 360 GWh annually, avoiding the emission of 36,400 tonnes of CO₂ and producing enough energy to supply nearly 100,000 homes, equivalent to the residential consumption of cities like Pamplona or Santander.

“This acquisition reinforces Velto's goal of expanding its presence in the Iberian Peninsula—now covering more than 80% of the country—and cements its position as a leading renewable energy platform in Europe. Plus, the proximity of the new plants to the projects already managed by Velto will generate operational synergies and greater efficiency," said Lucas de Haro, CEO of Velto Renewables.

The transaction is part of the strategy launched by Plenium Partners and Bankinter Investment to generate value through the asset consolidation carried out in recent years, efficiency gains in operations and maintenance, and the optimisation of the financial structure.

The transaction with Velto Renewables described above is subject to receiving the required regulatory approvals and customary closing conditions for a transaction of this nature.

The main advisers to Bankinter and Plenium Partners were Gómez Acebo Pombo (legal), Enertis (technical), EY (tax) and KPMG (financial). Velto Renewables was advised by ING EMEA Energy Transition (financial), Watson Farley & Williams (legal), Vector Renewables (technical) and EY (financial and tax).

About Velto

Velto Renewables is an international renewable energy producer that develops, builds and operates projects with a long-term vision. Founded in 2020 and backed by the global investment group La Caisse (formerly known as CDPQ), Velto Renewables is committed to the decarbonisation of the global economy and the energy transition in Europe by investing in and developing an international multi-technology portfolio of renewable energy projects. Velto has more than 280 MW of solar and wind photovoltaic assets already operating or under construction in Spain and France, manages a 25% investment in a 630 MW offshore wind farm in the United Kingdom, is developing over 1 GW of projects in the Iberian Peninsula, and pursues an international growth strategy that has made it a local player in the countries and regions where it operates.

About Plenium Partners

Founded in 2007 and headquartered in Madrid, Plenium Partners is an investment firm specialising in sustainable energy and infrastructure in Europe. The company currently has investments exceeding 7.5 billion euros widely diversified across sustainable infrastructure, including urban heating networks, biomethane, self-consumption and distributed generation solutions, student residences, waste management and recycling, and other infrastructure assets.

About Bankinter Investment

Over the past nine years, Bankinter Investment has successfully launched 28 alternative investment vehicles with over 5.1 billion euros in investor commitments. Including project financing, this currently represents a portfolio of assets under management exceeding €7.4 billion.

 The drive for alternative investment vehicles, in which Bankinter Investment is a leader in Spain and Portugal, has enabled more than 14,700 Spanish and Portuguese investors to co-invest with Bankinter Investment and its partners, with a clear focus on promoting long-term financial savings, diversifying into real assets, optimising risk-return ratios and generating lasting value for society.