The fund manager starts an international tender to select a strategic investor for the construction of the assets
LONDON, July 16, 2021 /PRNewswire/ -- Quercus Real Assets Limited (Quercus) has started an international tender managed by Greenhill, the leading independent investment bank focused on providing financial advice globally on significant mergers and acquisitions, who are very active in the energy and infrastructure sector. The process aims at selecting a strategic investor for the construction and operation of the 800 MW Spanish PV portfolio that Quercus has acquired and developed since 2020. The portfolio is currently one of the largest in the European renewables market.
Bidders are likely to be among the major industrial and financial investors in the sectors, who are often the most interested parties in large portfolios, particularly in the Spanish market, one of the most active solar markets in Europe.
Quercus, since inception, invested in the construction and operation of solar and wind infrastructures, successfully completing more than €1 billion in gross investments in five European countries in just one decade. Following the first ten year chapter, in 2019 the investment manager stirred its strategy to adjust to the ever-evolving renewables market and undertook investment in the permitting process which would lead to the construction of new renewable energy assets. This new strategy lead to the decision to dispose of the portfolios, all generating positive performance and in aggregate a return for investors higher than 8% at the date of the sale. This not only demonstrated the ability of the manager to navigate through the challenges of the many regulatory changes in Europe but also confirmed its commitment to deliver a successful result to international investors, who continue to welcome and support the new strategy.
Quercus Real Assets is an impact investment firm specialising in energy transition investments regulated by the Financial Conduct Authority in the UK.
Since creation in 2010, our strategies have been founded on the belief that the creation of long-term environmental and social capital underpins and strengthens investors' and shareholders' returns. We are committed to investing responsibly for sustainable income and capital returns while contributing to a carbon-neutral future.
Quercus' founders, Diego Biasi and Simone Borla, also established a Luxembourg Fund which grew to be one of the top 10 largest European independent funds specialized in utility scale renewable energy investments. The Fund successfully completed over €1bn in gross investments since inception in five different strategies all of which has generated positive performance and in aggregate a return for investors higher than 8% at the time of the disposal in October 2019. The sale has marked the largest Pan-European renewables transaction in that year. For Quercus, the sale completed a 10-year Phase One of its European investment strategy.
In January 2020, Quercus' Chairman, Diego Biasi, embarked on Phase Two, with a revised investment strategy following the evolution of the market environment and also joined forces with Marco D'Arrò, founder of the Real Asset Group, a capital advisory firm having advised and arranged €3.6bn of gross investments since its inception in 2013 and became Quercus Real Assets.