Altano Energy (“Altano”) is pleased to announce the acquisition of a 112 MW portfolio of operational mini hydro assets and advanced stage solar PV development projects, in the regions of Asturias, León and Cuenca which combined, will avoid the emission of more than 70,000 tons of CO2 into the atmosphere each year and will generate the equivalent of supplying clean energy to more than 80,000 households.
Altano ́s team, led by Miguel Sanchez Praena and Iñigo Sanchez-Junco, was supported in the transaction by Herbert Smith Freehills on the legal front of the transaction, Taiga and Qanat on technical side, and Capgemini Engineering, Gold and KPMG on the due diligence side.
Altano has ramped up its efforts during this year to secure a diversified portfolio of high- quality renewable assets where they can implement their strategy focused on value creation. Earlier this year, Altano had acquired a portfolio of over 100 MW of very advanced development stage solar PV and wind projects in Granada, which are accretive to the initial project acquired by Altano in 2021, a 64 MW solar PV project in Puertollano, which is currently under construction. Altano Energy, backed by institutional investor Pioneer Point Partners, was launched in June 2021 and has already secured more than 350 MW of solar PV, wind, hydro and hybridisation projects in Iberia. Altano ́s strategic vision is to build a best-in-class renewables platform, anchored in the acquisition of high-quality assets with strong optionality that can deliver superior value while ensuring downside protection.
Miguel Sanchez Praena, CEO of Altano, said: “We are very excited to have acquired this strong portfolio of assets which reinforces our strategy of building a diversified and robust renewables platform in Iberia. We will continue to further explore selective opportunities that can generate additional value to our shareholders as well as support the energy transition.” About Altano Energy