Zak Bentley
The move, made alongside Swiss Life, lifts the firm into the top five solar operators in Italy, owning a portfolio of 143.5MW.
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Challenges remain in securing revenue streams in countries where policies are aimed at reducing consumer expenses.
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The deal adds to a recent investment in the student accommodation sector, with the manager also eyeing water investments.
The deal includes the UK’s first offshore wind farm and a project bought by JPMorgan only six months ago.
A claim for compensation from the Spanish government remains ongoing in the European Court of Arbitration.
The move comes amid changes to Italy’s PPP laws aimed at improving investment conditions in infrastructure projects.
The deal is the fourth agreed by the Dutch fund manager in Australia and the second from its Core Infrastructure Fund.
The group, including Quaero Capital and the Marguerite Fund, has secured finance from eight lenders, including from reinsurer Scor and La Banque Postale.
The fund is being led by the new infrastructure investment arm of A.P. Moller Holding and will be open for institutional investors over the next 12 months.
The government is clamping down on lax security measures employed by operators across the industry.