A Strategic Partnership
Allianz Capital Partners, acting on behalf of Allianz and other institutional investors, played a key role in this transaction. Allianz Capital Partners is a world-renowned asset manager affiliated with the Allianz Group, one of the world’s leading insurers and asset managers. This collaboration testifies to Grenergy’s confidence as a strategic partner in the solar energy sector.
The transaction is scheduled to close on June 30, 2025, subject to fulfillment of customary conditions. The solar power plants at the heart of this transaction will enter commercial service in the second half of 2024. Until the balance sheet date, all energy revenues generated by these plants will be allocated to Grenergy. In addition, Grenergy will continue to operate, maintain and manage the assets throughout the useful life of the plants.
Project Valkyria: A Visionary Initiative
The sale of these assets is part of the Valkyria project. It’s a visionary initiative structured in phases to meet investor needs and maximize asset value. Grenergy recently announced the completion of the first milestone in the Valkyria plan, marking a significant step forward in the project.
The Valkyria plan is designed to support Grenergy’s growth and strengthen its position in the solar energy sector. By generating financial income from the Valkyria transaction, Grenergy will be able to finance its expected growth over the next few years. The company plans to present its strategic plan at its first Capital Markets Day, scheduled for November 21.
CEO’s words
David Ruiz de Andrés, CEO of Grenergy, expressed his satisfaction at this major strategic collaboration: “We are delighted to announce our first major agreement with Allianz Capital Partners, which underlines the trust placed in us by leading companies. We hope that this marks the beginning of a future cooperation that could be extended to other markets. This deal demonstrates our commitment to solar energy and our ability to create value for our partners and investors.”
The Future of Solar Energy in Spain
This transaction is of particular importance for the future of solar energy in Spain. Spain has become a key player in the transition to renewable energies in Europe, benefiting from a climate conducive to solar energy. Allianz Capital Partners’ investment in these solar power plants demonstrates its confidence in the potential of the Spanish solar energy market.
All in all, the agreement between Grenergy and Allianz Capital Partners for the sale of 300 MW of solar power marks a major milestone in the renewable energy sector. This strategic collaboration strengthens Grenergy’s position as a leader in solar energy in Spain, and paves the way for significant growth. The Valkyria project, with its planned phases, will help finance this growth and maximize asset value.
Allianz Capital Partners’ confidence in the Spanish solar energy market is a positive sign for the future of renewable energy in Spain. This partnership demonstrates that renewable energies play an essential role in the energy transition and in creating value for companies and investors. This is a major step towards a cleaner, more sustainable future.
