Tages Capital SGR, an asset manager specializing in private equity investments, has announced two new acquisitions in Italy via its Tages Helios Net Zero fund. The first portfolio comprises 151 operational photovoltaic power plants with a total capacity of 122.7 MW, mainly located in Apulia, 99 MW of which use tracker technology. The second portfolio includes 45 operational photovoltaic power plants with an installed capacity of around 38.1 MW, spread across several Italian regions, including Campania, Apulia, Molise, Emilia-Romagna, Marche, Lombardy, Sicily and Lazio.
Financing and Banking Partnerships
For these acquisitions, Tages Capital SGR secured a loan of 563 million euros, including credit lines for acquisitions already made, refinancing of existing debt, and financing of modernization and repowering work on the power plants. This financing was provided by a pool of six banks: BNP Paribas Italia, Intesa Sanpaolo S.p.A., Société Générale S.A. – Milan Branch, Banco Bilbao Vizcaya Argentaria S.A. – Milan Branch, Crédit Agricole Investment Banking and Banco BPM S.p.A., acting as green loan coordinators and lenders. In May, another €153 million financing transaction was finalized for the Tages Helios II fund’s investments in 2023, concerning the acquisition of 99 MW of photovoltaic power plants. The loan was underwritten by eight banks, including BNP Paribas Italia, Intesa Sanpaolo S.p.A., Société Générale S.A. – Milan Branch, and others, also acting as green loan coordinators and lenders.
Outlook and Impact on the Energy Market
Umberto Quadrino, Chairman of Tages S.p.A. and CIO of Tages Capital SGR, emphasized that these acquisitions strengthen Tages’ position as Italy’s second-largest operator in the photovoltaic sector, benefiting from the ongoing expansion of the solar market. The financing operations carried out with Italian and international banks demonstrate Tages’ recognition by the financial world as a key player in the renewable energies market. With these acquisitions, Tages has invested around 90% of the 330 million euros raised in the first year of fundraising for its third fund, Tages Helios Net Zero. The fund continues to attract institutional investors and private banking networks thanks to its excellent risk/return profile and regular distributions. Tages Helios Net Zero is also committed to the energy transition, with its announced investment in iPlanet and other initiatives currently being finalized. Investment in renewable energies remains essential in institutional and private portfolios, and Tages plans to raise more resources to invest in a sector offering more attractive opportunities than ever.
