Higher tariffs lure Platina into Spanish solar power(2)

Higher tariffs lure private equity into Spanish renewables

Private equity advisor Platina Partners has taken direct control over three Spanish solar plants after the government introduced higher tariffs to enourage investment into big renewable plants.

A Platina subsidiary, Anemoi Renovables, bought the plants in Cantillana, Andalucia and Ocana last year after the Spanish government agreed to pay over a third more for electricity produced by big solar plants.

“This project would still make commercial sense if we had not met this tariff, said Platina partner Alexandre Labouret, “but it would have increased the price at which we could buy the assets.”

He added people had “rushed” to invest in Spain before the offer of higher tariffs ran out last September.