Baar-Zug, 11 April 2011
Partners Group, the global private markets investment manager, continues to invest in renewable energies and completed a direct investment, along with its investment partner First Reserve, into a 71 MW solar photovoltaic power plant on behalf of its clients. The plant is located in the Rovigo province of northern Italy and is currently the largest single operating solar power plant in Europe. It was connected to the grid in November 2010 and sells power under the 2010 Italian feed-in tariff, providing high revenue stability for 20 years of operation. The plant was developed by SunEdison, a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials.
In its first year of operation, the system is expected to generate enough energy to power approximately 16'500 homes and prevent the emission of 40'000 tons of CO2, which would equate to the removal of 8'000 cars from the road.
Michael Barben, Partner and Head Private Infrastructure, comments "We have long identified the rising need for environmentally-friendly sources of energy and the potential offered by investments in this segment. This transaction highlights Partners Group ability to source investment opportunities in line with our relative value approach, to utilize our local presence in separate geographies and to partner with other leading infrastructure managers."