Zak Bentley
The Spanish government is considering an appeal after it lost the first case against its renewable energy tariff cuts in international courts.
The Canadian institution has teamed up with regular partner Innergex to buy three projects with a capacity of 119.5MW from a subsidiary of Riverstone.
The UK pension becomes the rural broadband provider’s latest investor alongside existing backers Infracapital and Woodford Investment Management.
The project, which is yet to be built, is expected to cost the company up to €255m and would be the first significant solar development in Spain in over four years.
The firm has built on its appointment of Mark Gilligan as head of infrastructure equity in October as it chases an ‘increasingly attractive’ asset class.
The group now controls 85% of A4 Holding following its €594m swoop on 51% of the company in September last year.
Despite the process being part suspended, the regional government of Murcia has gone ahead with the tender, shortlisting Aena, Edeis and Corporación América.
The deal ensures the company becomes one of the largest solar PV owners in the country following a deal with Riverstone and bankrupt developer SunEdison.
Infracapital and Morgan Stanley’s sale of Affinity Water is the latest in a series of transactions in the UK water sector in recent months.
After a six-month interim period, Lord Adonis received confirmation of his role as chair while the body has also enlisted advice from the investment community.